Posts filed under 'Oil & Petro Chemicals'
Experts believe the rally in the markets in the last few trading sessions is sustainable for even more sessions and that the longs are still holdable.
SENSEX closed at 16643.74 gaining 192.27 (1.17%). NIFTY closed at 5018.40 gaining 62.60 (1.26%). CNX Midcap closed at 6746.05 gaining 98.55 (1.48%). BSE Smallcap closed at 6272.23 gaining 76.53 (1.24%).
Kirloskar Oil will consider buy back of its shares when it announces its quarterly results on January 25, 2012. The stock jumped upward on the news but cooled off a little as the day progressed. The script closed at Rs. 143.75 gaining 8.80 (6.52%) with a volume of 44.25k shares traded.
An arm of Reliance Industries bought 1.14% stake in Den Networks according to an ET report. Den Networks script jumped at closed at Rs. 70.05 gaining 6.35 (9.97%) amidst a volume of 341.16k shares traded.
Bank of America Merrill Lynch in its company update report on TCS dated January 16, 2012 has given a BUY call on the script. The target price for TCS is Rs. 1330. The post in-line balanced 3Q and encouraging hiring has led to the BUY call.
All eyes are now on the Reliance Industries quarterly numbers that will be released tomorrow.
January 19th, 2012
The markets closed flat today after a stellar rally yesterday. The SENSEX closed at 16451.50 down 14.55 (-0.09%) while the NIFTY closed at 4955.80 slipping 11.50 (-0.23%). Much of the damage was in midcap and smallcap stocks with the CNX Midcap closing at 6647.50 down 77.80 (-1.16%) while BSE Smallcap closed at 6195.70 down 62.75 (-1%).
It appeared that the markets have already lost stream and the short term peak was already approached. Experts however say that considering that some renewed buying interest was seen, it is too early to say that the revesal of course is on charts.
While Reliance Industries closed up, TCS which announced good numbers yesterday took a beating today. Experts believe the current stock price already is factoring its potential near-future growth and that a target of Rs. 1200 is max for the script, atleast in the next 12 months time frame.
Reliance is considering a share buyback on January 20 when it will be announcing its results. This moved the script which closed at Rs. 779.75 up 37.70 (5.08%) with a volume of 9.25m shares traded.
The Supreme Court of India Essar Oil is not eligible for sales tax benefit and that the company will have to pay sales tax to Gujarat State Government of approximately Rs 6300 cr. The script closed at 51.15 slipping 7.05 (-12.11%) with 24.8m shares traded.
Lenders may infuse USD 250 mn equity in Kingfisher Airlines. The script closed at Rs. 25.35 gaining 0.25 (1%) with a volume of 14.49m shares traded.
January 18th, 2012
Indian stock markets followed Global queues once again and witnessed heavy selling in the stock markets today. However, the damage felt here is comparatively less than other Asian peers and European markets.
Hang Seng tripped 4.3% today. Straits Times lost 2.01%. There is not much change in the trend in the European markets with the CAC 40 and DAX trading down 2% while FTSE 100 is down 1.4%.
The BSE SENSEX lost 302.31 points and closed at 16151.45 down 1.84%. The NSE NIFTY too slipped a bit and closed at 4849.50 points losing 93.75 or 1.90% in trades today. A similar damage is witnessed on the CNX Midcap that closed at 6961.20 losing 132.80 or 1.87% while the BSE Smallcap closed at 6779.16 down 101.92 or 1.48%.
Top losers on the exchanges today are DLF (down 8%), Jindal Steel (down over 6%), Hindalco (down over 5%), Tata Steel, SAIL, Sterlite Ind and ICICI Bank (down over 4% each), Jaiprakash Asso, Sesa Goa, Wipro, Tata Power, Axis Bank, Kotak Mahindra, Larsen and SBI (all down over 3% each).
Top gainers of the day incldue BPCL (up over 4%), GAIL, Reliance Power, Rel Capital, Reliance Infra and Cipla (all up over 1% each).
ENAM Securities India Research in its report dated September 29, 2011 reviewed Mahindra & Mahindra and has given a HOLD call to it. ENAM feels the XUV-500 positioned above the Scorpio and developed at a low cost base helps to meet the export markets. They feel M&Ms overall market movement is on track. The script is given a price target of Rs. 832 with a potential of 2% up compared to the CMP of Rs. 813.
ENAM in its company update (dt. September 19, 2011) on Reliance Industries doubts the company is on the way for a major acquisition which could trigger upward movement of the script. They gave a target of Rs. 1100 compared to the CMP of Rs. 821 indicating a 34% upside. IDFC Institutional Equities feel that the CMP has factored in many negatives giving a huge upside potential. The script has a target price of Rs. 1109, a 44% upside based on SOTP valuations.
ICICI Securities has upgraded Tata Power from HOLD to ADD. They feel the script has a target of Rs. 1050 from the CMP of Rs. 998.
October 3rd, 2011
Indian stock markets are directionless for most of the trading session with the lack of any queues to take any specific direction. However, they ended in the green after the European markets have opened. Sensex managed to close up at 17165.54 gaining 100.54 points while Nifty closed the day at 5153.25 adding 28.60 points in trade today.
Earlier yesterday the US markets (Sep 7) rallied sort of. Dow Jones added 275.56 points and closed at 11414.86. Nasdaq closed at 2548.94 adding 75.11 points. It was mixed bag in the Asian markets today (Sep 
with Hang Seng and Shanghai Composite closing in the red while other major Asian markets closed in the green. The Nikkei registered second consecutive gains and managed to get farther to its six-month low mark. The European markets are marginally in the red at early trades (Sep .
Top NSE gainers of the day include Ranbaxy Labs, Cairn India, Cipla, Tata Motors, Wipro, ICICI Bank, Reliance, Infosys amongst others. Leading losers include SAIL, Jindal Steel, Tata Steel, HDFC, Tata Power, NTPC amongst others.
The CAG report said that Reliance Industries (BSE: 500325; NSE: RELIANCE; ISIN: INE002A01018) did not relinquish 25% of total contract area and that it violated production sharing pact on KG D6. Analysts and the markets appear to cheering the script. RIL closed at Rs. 853.50 gaining Rs. 21.80 or 2.62% on the BSE today.
Suzlon Energy (BSE: 532667; NSE: SUZLON; ISIN: INE040H01021) said that REpower got an order to supply 47 wind turbines. The script closed at Rs. 41.95 gaining Rs. 0.65 or 1.57% on the BSE.
September 8th, 2011
The Indian stock markets continued their second day of movement in the green territory but it appears the positive conviction of a long term positive bias is still far away. The Indian stock markets followed its Asian pears in having making a positive closing however the Eurozone is trading mixed. FTSE (on 30 Aug) is in the green while CAC and DAX are marginally in the red indicating that the nervousness is not yet gone.
SENSEX closed the day at 16676.75 gaining 260.42 (1.59%) while NIFTY made several attempts and finally closed above the 5k mark at 5001.00 gaining 81.40 (1.65%). The broader CNX Midcap closed at 7294.75 adding 93.25 (1.29%) while BSE Smallcap has shut shop at 7131.48 adding 77.67 (1.1%) in trade today.
Market reports are out that Reliance Industries (BSE: 500325; NSE: RELIANCE; ISIN: INE002A01018) completed the sale of 30% of its 21 oil and gas blocks BP in a 7.2 bn deal. The stock closed at Rs. 781.50 up Rs. 27.45 or 3.64%.
ONGC is likely to hit markets on September 20. It is likely to file FPO documents with SEBI by September 8. With volumes of 7.22m traded today, the script closed the day at Rs. 263.30 down 11.65 (-4.24%).
Trouble in the Manesar plant of Maruti Suzuki India (BSE: 532500; NSE: MARUTI; ISIN: INE585B01010) is not yet over and this will show an impact in the roll out of the Swift. Waiting period for the delivery of the cars is expected to go up. The script managed to close the day in the green today after getting punished yesterday. Maruti closed the day at Rs. 1092.35 up 12.35 (1.14%).
Stock market numbers for the month of August 2011 are out. It was reported that FIIs have sold over Rs 10000 cr as the Sensex lost 1500 pts during the month.
The Indian economy grew a meagre 7.7% during the first quarter of fiscal year 2012 i.e from April to June. It was 9.3% during the same quarter last year. The markets tumbled a bit soon after the news came out but managed to recover later.
Reports are out that the debt starving Reliance ADAG is planning to sell upto 49% stake in DTH business.
Media reports are out that the Mahindra Satyam - Tech Mahindra merger will gain momentum. The companies will appoint bankers to finalize merger details, it is reported. Satyam closed the day in green at Rs. 66.90 up 1.45 (2.22%) with volumes of 3.5m shares traded today.
The Indian stock markets will have a two day holiday. August 31 being Ramzan ID and September 1 being Ganesh Chaturthi.
August 30th, 2011
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