Motilal Oswal is positive on Hindustan Zinc due to the strong volume growth of zinc metal and sharper growth in lead and silver production over the next few years. Maintain BUY with a target of Rs. 193.
JP Morgan, in its report dated Oct 21, 2011 said that Crompton Greaves is having a decent start to a fresh innings and has upgraded it to Neutral with revised Sep-12 PT of Rs. 135.
Add commentOctober 22nd, 2011
The Indian markets that opened this morning witnessed a flattish session till noon when news that Moodys has downgraded State Bank of India from C- to D+ has come out. This triggered has led to selling pressure in SBI stock and few other banking stocks, such as ICICI Bank. The fire got fuel when European markets too opened in the red and hence spread to the whole of the market. Heavy selling is witnessed across the board making almost all indices to end deep in the red.
The SENSEX closed the day at 15864.86 losing 286.59 points in trading session today. i.e it is down 1.77%. NSE NIFTY last traded at 4772.15 points losing 77.35 or 1.60%. Selling pressure appeared even in the Mid cap and small cap sectors. CNX Midcap closed at 6876.80 down 84.40 points or 1.21% while the BSE Smallcap closed at 6704.93 points down 74.23 or 1.09%). The CNX PSU Bank Index is down 2.94% while CNX Service and CNX Auto indices closed down over 2%.
The Bank Nifty closed at 8913.35 losing 275.55 points or 2.7%. SBI stock closed at sub-1800 levels once again. The script closed at Rs. 1787.20 losing Rs. 74.40 or 4% amidst volumes 5.06m shares traded. ICICI Bank is down 4.43% and has now come to affordable levels of Rs. 801.95. IDBI is down 3.95%. Oriental Bank of Commerce, Axis Bank, Canara Bank, Union Bank and HDFC Bank have lost over 2% each.
Top losers of the day are ICICI Bank, Tata Motors and Mah and Mah (each down over 4%), SBI, Jindal Steel and Sterlite Ind (each down over 3%), Axis Bank, Bharti Airtel, HUL, Jaiprakash Asso, HDFC, HCL Tech, Reliance and Sun Pharma (each down over 2%). On a day of heavy selling, few scripts managed to close in the green. With the strike over, interest both in investor and trading community is back in Maruti Suzuki. The script closed at Rs. 1107.85 up 2.79% today. Larsen that saw selling yesterday managed to close in the green today. L&T is up Rs. 19.50 at Rs. 1338.70. Other gainers of the day include Wipro (up 1%), Rel Capital, BHEL, Hindalco, Tata Steel, Ranbaxy Labs, Siemens, Reliance Power, TCS, Grasim and Hero Motocorp (all marginally up).
Nomura has reiterated their BUY call on Coal India in the report dated September 30, 2011. They feel that recent price correction in the stock is unwarranted because it is very much expected. They has put a target of Rs. 433 for the stock.
Add commentOctober 4th, 2011
The Indian stock markets closed the day in the red despite having made attempts to recover after the European markets opened. The SENSEX closed the day 16051.10 losing 110.96 or 0.69%. The NIFTY managed to hold above 4.8k mark and closed the day at 4835.40 down 32.35 or 0.66%. The Midcap and Small cap indices suffered a little more. The CNX Midcap closed at 7071.95 slipping 113.35 points or 1.58% while the BSE Smallcap is below the 7k mark and closed at 6923.41 losing 117.71 or 1.67%.
Earlier (Sep 26) almost all major Asian equity indices closed in the red. The US markets (Sep 23) had a marginally positive closing with Dow Jones closing in the green by 37.65 points at 10771.48. Nasdaq closed at 2483.23 up 27.56 points.
The metal stocks are the biggest losers today. Sterlite Industries is down 4.2%. Hindalco, Sesa Goa and Reliance Capital are down over 3% each. Hero Motocorp, GAIL, Axis Bank, Cairn India, Bajaj Auto and Jindal Steel are down over 2%.
On the gainers side are Jaiprakash Associates, Ranbaxy Labs and DLF (all up 2%), ICICI Bank, Ambuja Cements and Bharti Airtel (all up over 1%) amongst others.
Battery maker Eveready Industries India (BSE: 531508; NSE: EVEREADY; ISIN: INE128A01029) is in news today that it will sell the land held by it in order to pay debt. The company is planning to unload 60-70 acres in Delhi, Hyderabad & Bangalore. The script opened the day at Rs. 39, touched an intraday high of Rs. 40.60 and low of Rs. 35.30 and finally closed at Rs. 36.35.
Metal stocks had a shocker today because of more negative news for mining companies in regard to increased Governmental control, court rulings and environmental issues. Hindustan Zinc and Coal India are down over 5% each. Sterliate Industries is down 4%. Sesa Goa, Hindalco and NMDC are down over 3%. Jindal Steel and JSW are down over 2%.
Batlivala & Karani Securities in its annual report analysis report of Coal India dated September 20, 2011 has given a BUY call in the script. It gave a target price of Rs. 437 for the script and says there is a potential of 16% upside.
Add commentSeptember 26th, 2011
Positive opening in the Eurozone and buying by FIIs, particularly in the large cap names has bought some positive sentiment in the Indian stock markets today.
The SENSEX closed above the 17k mark at 17099.28 gaining 353.93 points or2.11%. The NIFTY closed at 5140.20 gaining 108.25 and is up 2.15%. CNX Midcap closed at 7391.50 gaining 59.65 or 0.81% while the BSE Smallcap index closed at 7300.17 up 88.64 or 1.23%.
Top gainers of the day include Cairn India, Reliance Power, Rel Capital, Hindalco, Reliance Comm (all up over 4%), TCS, SBI, Reliance, SAIL, Axis Bank, DLF, HDFC and Infosys (all up over 3%). On the losers end are ONGC (down over 2.9%) and BHEL (marginally down).
Markets reports say that National Thermal Power Corporation (NTPC) is likely to exit from its coal special purpose vehicle (SPV) International Coal Ventures Private Limited (ICVL). ICVL is a venture jointly by SAIL, NTPC, Coal India, RINL and NMDC. NTPC has a stake of 14% in the JV. It appears NTPC is saying that the JV is not of much use for companies like them which depend on thermal coal. ICVL assets are more of coking coal and are more benificial for steel companies. The power ministry and cabinet are to take decision and give approvals to provide exit for NTPC.
Situation at Maruti Suzuki has not changed much with the Government pulling out of talks. The negotiations broke down after union leaders arrest. The stock closed the day at 1154.95 up 14.20 or 1.24% with a volume of 1.15m shares.
Add commentSeptember 20th, 2011
The Indian stock markets missed the usual trend and has closed the day in the green despite its Asian and European peers are in the red. Sensex gained 144 points to close at 16.8k while the Nifty tested 5050 and had managed to close above the 5k mark.
Nifty toppers of the day include Reliance Comm and Rel Capital (both up over 6%), DLF (up 5%), Tata Steel and Sterlite Ind (up over 4%) and Mah and Mah, Reliance Infra and Bajaj Auto (all up over 3%) each. IDFC, HCL Tech, Tata Power and PNB are amongst the top losers.
Everonn Education (BSE: 532876; NSE: EVERONN; ISIN: INE678H01010) saw heavy selling today after news of CBI arresting its MD P Kishore and Additional Commissioner of Income Tax in Chennai, Andasu Ravindar in a bribery case.
Lupin (BSE: 500257; NSE: LUPIN; ISIN: INE326A01037) surged Rs. 19 today and the stock closed the day at Rs. 467.60. There was news that an arm of Lupin and Sanofi Aventis has signed a marketing and distribution pact.
Kotak Institutional Equities has given a SELL call for Reliance Communications with a target of Rs. 80 down from a target of Rs. 95. RCOM’s stretched balance sheet, increased debt (almost 3x from FY 2008 most of the funds of which went to the GSM roll out which is yet to give the desired results and the weak competitive positioning has lead to the deterioration of the script.
Edelweiss says that Coal India’s pricing power can offset its hurdles like wage revision and the implementation of mining tax. They feel that the environmental issues will get resolved by FY2014 which will turnaround the production capacities and hence is a good long story. The script has a target of Rs. 460. JP Morgan has put a September 2012 price target of Rs. 345 valuing the company at 7x FY13E EV/EBITDA.
Add commentSeptember 2nd, 2011
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