Sensex

Thursday, July 05, 2007

$$ DreamGains !! $$ Q1FY2008 Banking earnings preview: Sharekhan Special dated July 05, 2007

 

Sharekhan Special
[July 05, 2007] Please see the attachment for details

Sharekhan
www.sharekhan.com

Summary of Contents

SHAREKHAN SPECIAL

Q1FY2008 Banking earnings preview

We expect the first quarter numbers from the banking industry to be mixed as the net interest margins (NIMs) and provisions are expected to vary across banks. With liquidity not being a concern for the major part of this quarter, we expect most of the banks to have had a sound operational quarter. 

With inflation having moderated to 4% levels and less pressure on deposit rates, we feel that interest rates are likely to remain stable in the medium term, thereby providing a good operational environment for banks going forward. Our top picks in the private bank space remain HDFC Bank and UTI Bank while in the public sector we like State Bank of India and Bank of Baroda.   

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The Sharekhan Research Team

myaccount@sharekhan.com

 

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Posted by nsivaa at 3:56 PM 0 comments

$$ DreamGains !! $$ Q1FY2008 Auto earnings preview: Sharekhan Special dated July 05, 2007

Sharekhan Special
[July 05, 2007] Please see the attachment for details

Sharekhan
www.sharekhan.com

Summary of Contents

SHAREKHAN SPECIAL

Q1FY2008 Auto earnings preview 

The first quarter of the current fiscal has started on a weak note for the automobile industry, as the sales volumes were affected by the rising interest rates, tightening of liquidity by the financiers and the seasonal effect of the monsoon. The two-wheeler segment was the worst affected as the sales in the 100cc segment were hit by price wars that led to stringent checks and lower loan sanctions by financiers. The commercial vehicle (CV) sales too slowed down during the quarter due to lower availability of finance as well as freight (the latter due to the monsoon). The surprise in the pack was the passenger car segment, which saw a good growth led by a number of new launches in the recent times.

The operating profit margins are expected to remain under pressure for the whole sector considering the high raw material prices and increasing competition (particularly in the two-wheeler segment). We expect MUL, Ceat, Apollo Tyres and Ahmednagar Forgings to be among the lead performers in the sector in Q1FY2008.  

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The Sharekhan Research Team

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Posted by nsivaa at 3:55 PM 0 comments

$$ DreamGains !! $$ Index Stocks Status

 

Index Stocks Status

Introduction - The report captures the current status of index stocks and points to you where the best opportunities are. The newsletter can help you decide on futures strategy. 

Stock

CMP

Comments

Action

ABB

1121

The stock is in strong uptrend with ADX > 40, and +DI > -DI. The stock should correct or trade sideways. The upsides capped at 1150. It is overbought

PASS

ACC

1022

yesterday it made a mega move

PASS

Bajaj Auto

2119

The stock should be looked from attractive buying opportunity. The stock is currently rangebound between 2100 and 2200. The momentum in the stock will come above 2200.

BUY > 2200

Bharti

860

There is strong resistance at 880. The stock has been trading sideways between 800 and 880. The upside seems capped at 880.

BUY > 880

BHEL

1545

The stock is in strong uptrend. Currently it is consolidating sideways between 1510 and 1560

BUY > 1560

 

Stock

CMP

Comments

Action

BPCL

340

The stock is finding strong support at 330 but upside seems capped at 370.

PASS

Cipla

218

There is resistance near 100 day moving average near 225

PASS

Dabur

102.4

The stock is trading sideways between 102 and 105.

PASS

Dr Reddy

663

Stop Loss = 650. The stock is seeing buying in oversold zone. The stock can inch up to 735. But the problem is of lack of momentum.

BUY

GAIL

308.5

It is a difficult stock to trade. There is considerable resistance at 315-320.

PASS

 

Stock

CMP

Comments

Action

Glaxo

1260

It is a low risk buy. The stock has a tendency to be all over all the place. It can reach 1320. But there is no momentum

PASS

Grasim

2739

2900 looks achievable on charts

Buy on declines

Guj Ambuja

130

There is momentum in cement sector

Buy on declines

HCL Tech

332

Rangebound between 320 and 350

PASS

HDFC

1982

Support may come at 1950 - still overbought

PASS

 

Stock

CMP

Comments

Action

HDFC Bank

1151

Sideways consolidation above 1150 - still overbought

PASS

Hero Honda

686

All over the place between 650 and 720

PASS

Hindalco

156

Slipped below 200 day moving average - now 100 day ma of 146 on cards

SHORT @ 160

HLL

197.5

Target = 205 on cards after breakout above 195

BUY

HPCL

265

Strong Support at 260 - upside capped at 280

PASS

 

Stock

CMP

Comments

Action

ICICI Bank

986

Upside resistance at 1000 - stock is overbought

PASS

Infosys

1931

Strong support at 1900 - upside capped at 2100

PASS

IPCL

342

Rangebound between 330 and 350

PASS

ITC

158

The stock is in buy zone but no momentum - Resistance = 160

PASS

L&T

2293

Overbought - Buy on declines near 2100

PASS

 

Stock

CMP

Comments

Action

M&M

749

The stock is sideways between 700 and 800. Momentum is expected above 750

BUY > 750

Maruti

2739

The upside is capped at 840 - currently overbought

PASS

MTNL

163

Sideways between 130 and 170

PASS

NALCO

261

Rangebound between 255 and 265. There is no strength

PASS

ONGC

872

Strong resistance at 940 but strong support at 850-860

BUY at 850-860

 

Stock

CMP

Comments

Action

PNB

1260

Sideways between 520 and 560 - there is no strength

PASS

Ranbaxy

367

The upside seems capped at 380 - there is no momentum

PASS

RCOM

542

BUY on declines near 530 - TARGET = 580

Buy on declines

Reliance Energy

613

Difficult to trade

PASS

Reliance

1718

Target = 1750 and then 1800

BUY near 1700

 

Stock

CMP

Comments

Action

RPL

114

Overbought consolidating at higher end of the band

PASS

SAIL

132

It seems today this stock may see strong buying - Target = 140

BUY

Satyam

471

Sideways trading with support at 456

PASS

SBI

1564

Buy on declines

PASS

Siemens

1412

Formation of shooting star - can fall to 1376

PASS

 

Stock

CMP

Comments

Action

Sterlite Ind

600

Support should come at 580

PASS

Sun Pharma

1022

Trading sideways to down

PASS

Suzlon

1478

Strong Uptrend - should be bought at current levels - still overbought

BUY

Tata Motors

701

The stock can move to 750 - breakout above 700

BUY

Tata Power

656

There is strong resistance at 680 -trading sideways

PASS

 

Stock

CMP

Comments

Action

Tata Steel

616

A move above 620 can attract momentum buying for target of 660

BUY > 620

TCS

1118

There is strong resistance at 1150

PASS

VSNL

490

Strong resistance at 510

PASS

Wipro

508

Strong support at 500 - BUY > 520

PASS

Zee

299

There can be strong buying > 300

BUY > 300

Observations -

·         There is no momentum in Pharma companies but there is buying interest visible in Cipla, Ranbaxy and Dr Reddy. Dr Reddy looks the best. A long position can be taken with stop loss below 650.

·         Steel and Autos look best for today. The picks are - M&M, Tata Motors in Autos and TISCO and SAIL in steel.

·         In side counters - HLL and Zee looks best

·         On dips, Suzlon looks best.

·         ONGC should find support at 850-860 - 200 day moving average

·         Breakout Play - RCOM

·         Reliance also looks good above 1700

·         Keep an eye on Bajaj Auto for move above 2200

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Posted by nsivaa at 8:00 AM 0 comments

$$ DreamGains !! $$ FW: Sharekhan Post-Market Report dated July 05, 2007

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 05 July 2007 15:33
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated July 05, 2007

 

 

 Sharekhan's daily newsletter

Visit us at www.sharekhan.com

 

July 05, 2007

 

Index Performance

Index

Sensex

Nifty

Open

14,932.53

4,359.20

High

14,963.26

4,378.55

Low

14,731.22

4,311.80

Today's Cls

14,861.89

4,353.95

Prev Cls

14,880.24

4,359.30

Change

-18.35

-5.35

% Change

-0.12

-0.12

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Indian Bank

141.35

7.53

Britannia Industries

1,703.90

4.97

Castrol India

275.50

3.47

TVS Motor

62.60

3.39

Cummins India

350.65

3.27

Losers

Arvind Mills

46.15

-5.04

Bombay Dyeing

589.50

-4.92

HTMT Global

505.50

-4.42

Lanco Infra

211.00

-4.40

Parsvnath Developers

361.90

-4.35

Market Statistics

-

BSE

NSE

Advances

951

325

Declines

1,627

760

Unchanged

62

27

Volume(Nos)

29.74cr

43.06cr

 Market Commentary 

Market overcomes early blues but drops 18 points

The Sensex touched an all-time high of 14963 during the early morning session but slipped on profit bookings in heavyweights and IT stocks.

Despite opening at record high level of 14933 the Sensex gave up its gains as selling across the board assured that the index remained in the red.  

 

The market opened firm tracking positive Asian markets and touched its new all-time high for the third consecutive session at 14963. However, strong bouts of selling in front-line and cement stocks dragged the Sensex to the negative territory by mid-morning trades. The index slipped further in the afternoon and touched the day's low of 14731. While the market remained subdued thereafter, the buying at lower levels helped the Sensex to pare most of its losses towards the close and wrap up the session at 14862, down 18 points. The broad based Nifty closed the session at 4354, down five points. 

Movers & Shakers

  • Sadbhav Engineering gained on the reports that the company and JMC Projects have received a project worth of Rs327.70 crore.
  • Indus Fila surged on acquiring a 51% stake in Indus Garments for a consideration of Rs9.35 crore.
  • Patels Airtemp tumbled despite securing orders worth Rs10.86 crore from Dreesser Rand (India) Ltd.


The breadth of the market was negative, with the losers outpacing the gainers in the ratio of nearly 1.71:1 on the BSE. Of the 2,640 stocks traded on the BSE, 1,627 stocks declined, 951 stocks advanced and 62 stocks remained unchanged. The sectoral indices closed in the mix. The BSE IT index slipped 1.03% at 4792 followed by the BSE Teck index (down 0.78% at 3725) and the BSE HC index (down 0.66% at 3839). However, the BSE Auto index gained 0.92% at 4882, the BSE CD index added 0.52% at 4214 and the BSE CG index moved up by 0.37% at 12619.

Most of the index stocks slipped on heavy selling. Reliance Energy led the slump and fell 3.27% at Rs591. Among the other major laggards Ranbaxy tumbled by 2.07% at Rs360, HDFC dropped 1.93% at Rs1942, HDFC Bank slumped 1.65% at Rs1130, NTPC fell 1.64% at Rs153, Satyam Computers declined by 1.49% at Rs468 and Hindalco lost 1.15% at Rs155. The other major front-line stocks shed 1% each. However, few bucked the downtrend. ICICI bank surged 2.03% at Rs1005, Maruti Udyog added 1.77% at Rs805, Tata Steel moved up 1.74% at Rs627, L&T gained 1.73% at Rs2331 and Dr Reddy's Lab rose 1.46% at Rs673.

IT stocks lost significantly on relentless selling. Four Soft dropped 4.43% at Rs56, Teledata Informatics shed 4.07% at Rs64, Aptech tumbled by 3.76% at Rs306, Accel Frontline declined by 3.29% at Rs60 and Patni Computer slipped by 3.27% at Rs493.

Over 3.42 crore DLF shares changed hands on the BSE followed by IFCI (2.57 crore shares), Reliance Natural Resources (97.63 lakh shares), NTPC (45.65 lakh shares) and Bellary Steel (44.33 lakh shares).

Value-wise DLF registered a turnover of Rs1,905 crore on the BSE followed by Vishal Retail (Rs251 crore), Indiabulls Real Estate (Rs160 crore), IFCI (Rs155 crore) and ICICI Bank (Rs117crore).

European Indices at 16:30 IST on 05-07-2007

Index

Level

Change (pts)

Change (%)

FTSE 100

6665.90

7.20

-0.11

CAC 40 Index

6079.23

-18.85

-0.31

DAX Index

8037.75

-37.51

-0.46

Asian Indices at close on 05-07-2007

Index

Level

Change (pts)

Change (%)

Nikkei 225

18221.48

52.76

0.29

Hang Seng

22252.99

34.44

0.16

Kospi Index

1847.79

9.38

0.51

Straits Times

3551.68

-3.17

-0.09

Jakarta Composite Index

2220.93

24.83

1.13

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