Indian Stock Market News, Analysts Picks, Views, Tips and Recommendations - 27 March 2008

First up, the Indian Markets should be opening lower since US had closed marginally lower yesterday. Other markets have also opened lower.

Gujarat NRE Coke:
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The one stock I am watching recently is Gujarat NRE Coke. I have been seeing it move between ranges for sometime now. So my target was to buy it at 110 or below. It did reach 103 on 24th March after dropping 20% of its value in a day. I waited a day to see how it moves but I was taken by surprise when it jumped 20% on 25th March and by another 12% on 26th March. I dont quite get the reason why it should such exaggerated movements unless somebody is making it move so. Now, its beyond my price range and I guess I will have to wait for a month or two to get into the stock.

Reliance Inds decides to shut down 2/3 of its Petrol Pumps
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The news item that caught my eye today was the decision by Reliance Inds to shut down 2/3rd of its petrol pumps. This drastic decision was taken against the Government's decision not to provide subsidy to private operators. This makes the Government run companies to sell petrol cheaper compared to the private operators. If this is going to happen for real then we got to see how it affects Reliance Inds bottom line but since Reliance claim that they are actually running losses due to the higher prices they charge this infact should improve their bottom line.

We got to wait and watch if Reliance will follow up on its threat for real or its just a threat to get Government do something!

Proud day for an Indian Company
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Tata's have finally closed out the deal to buy Jaguar and Land Rover. What a proud moment it is for being an Indian!

Analysts Views
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Abbott Ind, Merck, Wyeth to rally 35% more: LKP
Gbl cues, results key to mkts trading forward: Edelweiss
Not a rosy picture from macro angle: SCMF
Sensex can touch 17k: Experts
Brokerage stocks to see poor Q4 earnings
Positive on PSU banks: Centrum Cap

Brokerage Picks and Recommendations
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Karvy + Tata Chemicals Buy Mar 26, 08 418.00
Prabhudas Lilladher + XL Telecom & Energy Buy Mar 26, 08 400.00
Hem Sec + Chennai Petro. Buy Mar 26, 08 348.00
Prabhudas Lilladher + Nagarjuna Constr Buy Mar 26, 08 297.00
Emaky research + Thomas Cook (I) Buy Mar 26, 08 115.00

RK
Singapore Rentals, Real Estate Classifieds and Social Network

12 March 2008 : Indian Stock Market and Business News roundup

MoneyControl
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Relief rally may continue for few more days: Religare Sec
Nifty may re-test Jan lows of 4448: CLSA Tech
Rally to be more broad-based this time: HSBC AMC
Next 3-6 months to be painful: Rada Adv
Brokerage biz to see earnings revision
Investors seem cautious on mkts: Karvy

Sify
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'No terror outfits in stock market'
Market regulator SEBI has ruled out participation of terror outfits in the Indian stock markets, Parliament was informed on Tuesday.

India looking at more relief sops for exporters
The government is looking at more steps to help exporters hit by a rise in rupee value, the trade minister said on Tuesday as he admitted the annual export target of $160 billion could not be met this year.

Rupee gains as local equities erase losses

The Financial Express
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Steelmakers may keep capacity idle
Indian steelmakers facing higher input prices may be forced to keep some capacity idle as their working capital is being squeezed, according to Bipin Kumar Vohra, chairman and managing director of SPS Steels group.

Tata Motors to raise $1 bn in long-term funds
Tata Motors is revving up for the last lap in its bid to buy Ford Motor Co's luxury brands, Land Rover and Jaguar, which could cost it around $2.7-3 billion. On Tuesday, the company said it plans to raise additional long-term funds of up to Rs 4,000 crore, equivalent to $1 billion.

Yellow metal price may remain high: World Gold Council
Gold prices will remain high in the short term globally mainly due to continued demand from India and China, the weakening dollar and falling global mining supplies, according to James Burton, chief executive officer, World Gold Council.

Rupee rises a second day; bonds advance
The rupee rose for a second day as a rebound in the nation's stocks spurred speculation overseas investors will return to buy equities. The currency extended gains as the benchmark stock index gained 1.3%, the most since February 25, ending two days of losses.

Indian crude oil basket touches $100 a barrel
The price of Indian basket of crude oil touched a record high of $100.17 a barrel during the Monday trade in the oil market. This has resulted in putting further pressure on fuel retailers, which are loosing Rs 360 crore per day on auto and cooking fuel sale.

Finmin finds no foul play in Reliance IPO trading
Stock prices of Reliance group companies rose by up to 37% in about a month before the opening of Reliance Power IPO, but subsequent examination of trading of these shares on exchanges did not reveal any foul play, the government said on Tuesday.

SBI, SBS merger may be postponed till elections
The State Bank of India and State Bank of Saurashtra merger is unlikely to take off at least till the general elections to be held in 2009. The reason is that the State Bank of Saurashtra Act needs to be repealed to carry on with the merger of SBS with the parent bank.

Business Standard
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Worse is yet to come in forex derivative losses
The $50 million hit L&T took due to hedging losses in a subsidiary may just be the tip of the iceberg. Losses by Indian companies as a result of their exposure to the foreign exchange derivatives market may hog the headlines for next few quarters since many of the currency swaps are likely to mature after March, said foreign exchange experts.

LIC Housing to roll out Rs 350 cr fund
In order to cash in on the real estate boom, Life Insurance Corporation Housing Finance (LICHF) is set to launch a new venture capital fund for realty projects. The size of the fund, which is awaiting regulator approval, is likely to be Rs 300-350 crore, Director and Chief Executive S K Mitter said.


RK
http://yourmitra.wordpress.com