indian stock market

January 7, 2008 SANJAY   CHHABRIA       HOTEL STOCKS        Taj GVK Hotels Ltd(Rs 183((Rs 2 paid up))- Taj GVK(TGV) is a joint venture between the Tatas ( 26 % stake held by Indian Hotels) and the GVK Group. Taj GVK currently operates four luxury hotels - three in Hyderabad and one in Chandigarh . In Hyderabad , the company operates the Taj Krishna - its flagship luxury hotel, Taj Residency and Taj Banjara (both business hotels). Taj GVK is a market leader in the hotel industry in Hyderabad and Chandigarh with consolidated room strength of 534 in Hyderabad and 150 in Chandigarh . The company is expanding its capacity to have an inventory of 1,400 rooms in the next three to four years . Total Promoter holding in TGV is 74.64% and public holding is 10.69% .Taj GVK has three hotels (one luxury property and two business hotels) in Hyderabad totaling to 529 rooms, which is 50% of the total five-star rooms available in the city. Given t...

Date Investment Call Recommended Entry Price Target Time Horizon Jan 23 Zodiac Clothing Rs. 597.75 Rs. 748 6 – 9 months Jan 22 Nestle India Ltd Rs. 1313 (Add in Rs. 1215 –1250) Rs. 1575 12 months Jan 21 Shiv-Vani Oil & Gas Rs. 590 (Original buy – Rs. 450) Rs. 752 12 months Jan 12 Time Technoplast Rs. 921 (Add in Rs. 809 –921) Rs. 1250 12 months Dec 26 Gandhi Special Tubes Ltd Rs. 207 (Rs.178 – 189) Rs. 272 12 months Dec 20 Sagar Cements Rs. 319.70 (Rs. 260 – 280) Rs. 492 12 months Dec 19 Sunil Hitech Engg Rs. 319 (add in Rs. 272- Rs. 289) Rs. 400 12 months Dec 18 Shanthi Gears Rs. 88 (add in Rs. 77- Rs. 82) Rs. 110 12 months Dec 17 Sanwaria Agro Oils Ltd Rs. 111(add in Rs. 87 –...

Rajesh Exports advanced 11.31% to Rs 155 at 15:30 IST on BSE, after the company said it has secured an export order worth Rs 463 crore from Excel Goldsmiths, UAE. The company made this announcement during trading hours today, 31 January 2008. Meanwhile, BSE Sensex was down 71.39 points or 0.40% to 17,687.25. On BSE, 25.56 lakh shares were traded in the counter. The scrip had an average daily volume of 1.32 lakh shares in the past one quarter. The stock hit a high of Rs 161.50 and a low of Rs 133.85 so far during the day. The stock had a 52-week high of Rs 170 on 12 December 2007 and a 52-week low of Rs 5.33 on 6 March 2007. The mid-cap scrip had outperformed the market over the past one month 30 January 2008, declining 6.16% compared to the Sensex's decline of 12.52%. It had also outperformed the market in the past one quarter, declining 4.52% compared to Sensex's decline of 9.97%. The company's current equity is Rs 22.17 crore. Face value per share is Rs...

Parsvnath Developers gained 1.70% to Rs 280.70 at 14:29 IST on BSE, on reporting 112.9% surge in net profit to Rs 114.65 crore in Q3 December 2007 over Q3 December 2006. The results were announced during trading hours today, 31 January 2008. Meanwhile, BSE Sensex was up 18.26 points or 0.10% to 17,776.90. On BSE, 4.82 lakh shares were traded in the counter. The scrip had an average daily volume of 6.09 lakh shares in the past one quarter. The stock hit a high of Rs 290 and a low of Rs 269 so far during the day. The stock had a 52-week high of Rs 598 on 7 January 2008 and a 52-week low of Rs 221.60 on 7 March 2007. The mid-cap scrip had underperformed the market over the past one month 30 January 2008, declining 42.02% compared to the Sensex's decline of 12.52%. It had also underperformed the market in the past one quarter, declining 16.11% compared to Sensex's decline of 9.97%. The company's current equity is Rs 184.70 crore. Face value per share is Rs 2....

Allotment status is out on http://www.intimespectrum.com/site/display_ipo.asp?atp=1     I applied 128 shares got NIL allotment.    

ICSA India rose 1.5% to Rs 463.70 at 12:45 IST after company secured an order of Rs 38.94 crore from Northern Power Distribution Company of Warangal, Andhra Pradesh.. The company announced this during market hours today 30 January 2008. Meanwhile, BSE Sensex was down 181.47 points or 1.01% to 17,908.96, tracking subdued trend in Asian markets. On BSE, 12,499 shares were traded in the counter. The stock had an average daily volume of 1.75 lakh shares in the past one quarter. The stock hit a high of Rs 475 and a low of Rs 459 so far during the day. The stock had hit a 52 week high of Rs 648.80 on 28 December 2007 and a 52 week low of Rs 184.60 on 7 March 2007. The mid-cap scrip had underperformed the market over the past one month till 29 January 2008, declining 22.94% as compared to the Sensex's fall of 10.82%. It however outperformed the market in the past one quarter, rising 26.04% as compared to the Sensex's fall of 8.8%. The company's current equity is Rs 8.8 crore. Face...

Ashiana Housing rose 4.99% to Rs 423.45 at 11:42 IST after company fixed 22 February 2008 as the record date for the purpose of bonus issue in the ratio of five shares for every 2 shares held.. The company announced the record date during market hours today 30 January 2008. Meanwhile, BSE Sensex was down 79.32 points or 0.44% to 18,011.46, tracking subdued trend in Asian markets. On BSE, 3,198 shares were traded in the counter. The stock had an average daily volume of 8,188 shares in the past one quarter. The stock hit a high of Rs 523.45 and a low of Rs 500 so far during the day. The stock had hit a 52 week high of Rs 754 on 1 January 2008 and a 52 week low of Rs 145.25 on 8 March 2007. The small-cap construction firm had underperformed the market over the past one month till 29 January 2008, declining 31.56% as compared to the Sensex's fall of 10.82%. It however outperformed the market in the past one quarter, rising 1.25% as compared to the Sensex's fall of 8.8%. The company...

Reserve Bank of India (RBI) today left key rates - repo, reverse repo, Bank Rate and CRR - unchanged in its third quarter review of annual statement on monetary policy for the year 2007-08 . While Bank Rate has been left unchanged at 6%, reverse repo and repo rates have been held steady at 6% and 7.75%, respectively. Cash Reserve Ratio (CRR) has been left unchanged at 7.5%. The market was expecting the Reserve Bank of India to lower the short-term lending rate viz. the repo rate by 25 basis points, after a hefty US rate cut last week. BSE Bankex slumped 3.27% to 11,144.79. BSE Auto index declined 1.53% to 4,850.77 and BSE Realty index down 1.01% to 10,580.98. Banking stocks plunged. ICICI Bank (down 3.35% to Rs 1,231), HDFC Bank (down 2.65% to Rs 1,535) and State Bank of India (down 1.7% to Rs 2,267) edged lower.

Indian Hotels Company rose 0.57% to Rs 141 at 12:58 IST on BSE, on reporting 52.9% surge in net profit to Rs 134.58 crore in Q3 December 2007 over Q3 December 2006 . The results were announced after trading hours on Monday, 28 January 2008. Meanwhile, BSE Sensex was down 116.88 points or 0.64% to 18,035.90. On BSE, 1.54 lakh shares were traded in the counter. The scrip had an average daily volume of 5.40 lakh shares in the past one quarter. The stock hit a high of Rs 145 and a low of Rs 138.50 so far during the day. The stock had a 52-week high of Rs 177.80 on 2 January 2008 and a 52-week low of Rs 101 on 22 January 2008. The mid-cap scrip had underperformed the market over the past one month 28 January 2008, declining 11.24% compared to the Sensex's decline of 10.17%. It had outperformed the market in the past one quarter, declining 0.11% compared to Sensex's decline of 8.24%. The company's current equity is Rs 60.28 crore. Face value per share is Rs 1. ...

NEW DELHI: The Reserve Bank Governor Dr Yaga Venugopal Reddy has held his ground and has kept all the key interest rates unchanged. The cash reserve ratio stays and the CRR repo and reverse repo rates as well as the bank rates remain unchanged. The policy actually leaves flexibility to change repo and reverse rates in the near future. The Reverse repo rate stays at 6 per cent and CRR at 7.5 per cent. The inflation target for 07-08 also remains at 4 to 4.5 per cent levels and 3 per cent in medium term. Moving away from the hawkish stance of the previous policy, RBI's second quarter credit policy review unveiled on Tuesday, is driven by liquidity management and move to maintain price stability. GDP forecast for FY-08 has been set at 8.5 per cent. The rationale behind RBI's stance this time is that too much liquidity in the market can ignite inflation, especially around the expecations of a rise in food and fuel prices globally, in the near future. Inflation is expe...

Keep investment plans on target Market Khabar by C. Kutumba Rao  (Deccan Chronicle dated 28.01.2008) From the beginning of last week the markets across the globe are experiencing the stock market version of a perfect Tsunami, where everything seems to be going wrong at the same time. On the BSE the Sensex fell by 652 points to end at 18,362 and the Nifty on the NSE lost 422 points to close at 5,383. However, the losses on the indices do not reflect the volatile intraday swings of over 1,000 points on the Sensex and 500 points on the Nifty during the course of the week. Market breadth was extremely weak with several midcap and smallcap stocks locked at downward circuit filter. After scaling new highs during the early part of the new year Ignoring and overlooking negative developments like subprime, rising crude oil prices, fear on a US recession, weakening IIP numbers and the domestic political wrangles within the UPA, the markets displayed false sense of 'decoupling' and...

When the going gets tough, the tough get going... The old adage appears more than inspiring, given the current situation in the stock market. By any measure, times are really tough for equity investors. After the free fall last Tuesday, the benchmark indices lost within a week what it took them three months to gain. Most of the stocks saw their fabulous returns wane, perhaps much faster than the popularity of Britney Spears! While investors are jittery over the one week mayhem in the market, ETIG believes that it's time the tough guys took centre stage. By tough, we mean the stocks that tend to render a rock-solid behaviour in a volatile market. These are the stocks that traditionally have lower beta. Beta indicates the sensitivity of a stock's returns to the changes in the benchmark index. For instance, a beta-one stock will change by the same percentage as the change in the benchmark. A beta lower than one, indicates a lower sensitivity to the benchmark. Thus, a ...

Bharti Airtel Research: HSBC Rating: Buy CMP: Rs 915 Bharti Airtel is one of HSBC's preferred picks in the telecom sector because it believes the stock offers low risk exposure to the domestic wireless sector at attractive valuations. Bharti Airtel, with low operating and financial leverage, offers the best earnings visibility vis-à-vis other domestic telecom companies and trades at FY09E P/E of 18.6x. The current estimates for Bharti Airtel factor in the potential combination of high subscriber growth, low subscriber quality and high capital expenditure (capex). Unlike its peers, for whom EBITDA is likely to be subdued given the new rollouts, Bharti Airtel will continue to benefit from scale through its rising subscriber base. The creation of Indus (tower JV) is a significant catalyst as it allows Bharti Airtel to benefit from lower capex and deeper coverage, while offsetting spectrum constraints and monetising its tower assets. HSBC remains bullish on Bharti Airte...

BOMBAY DYING / IDBI / RIL / REL CAPITAL / REL INFRA / RPL / PUNJ LLYODD / PENINSULA LAND ACCURATE TRANSFORMER / PANYAM CEMENT / VISHNU CHEMICALS / SIRPUR PAPER HINDUSTAN OIL / IFCI / BEML / MINDA / AVON ORGANIC / SS DUNCAN / INDIA FOIL / KIRLOSKAR BROTHERS / KIRLOSKAR OIL / EVINIX / HEG / JEYSWAL NECO /SANDUR

An investment with a 1-2 year perspective can be considered in the stock of Reliance Communications (RCom), considering the recent correction in its valuations and strong growth prospects for the company. With an end-to-end telecom services model spanning voice, data and international connectivity and its recent foray into IPTV, RCom appears well placed to deliver strong earnings growth over the medium term. At Rs 667, the stock trades at 28 times its FY08 earnings and 22 times its FY09 estimated earnings. RCom's licence win, which enables it to become a national GSM operator, strong growth in the data segment and increased revenue contribution from Yipes Communications provide scope for strong earnings growth over the next 18 months. RCom adds about one million subscribers a month in its existing operations. The company's recent licence win to offer GSM services in 14 additional circles will give it a nationwide footprint. Contracts for setting up the ...

The niche nature of OnMobile's business, sustainable growth prospects, strong operating margins and absence of peers in the listed space make a strong case for investment. Mr Arvind Rao , MD, OnMobile Global K.Venkatasubramanian Investments can be considered in the initial public offering of OnMobile Global, a telecom value-added services (VAS) provider, in the light of its track record in the Indian market and good growth prospects. The offer price, though, appears to be stiff given current market conditions and the valuation accorded to frontline telecom service and software players. At the upper end of the price band (Rs 450) the stock would be valued at 44 times its estimated current year earnings, on the post-offer equity base. But the niche nature of OnMobile's business, sustainable growth prospects, strong operating margins (45 per cent) and the absence of peers in the listed space make a strong case for investment. Value-added services (s...

MUMBAI: Stock market will pin its hopes next week on two central banks -- India's RBI and Federal Reserve of the US -- in its bid to recoup close to Rs 10,00,000 crore lost in the recent turmoil on the bourses. In addition, the market would also look forward to refunds from two major initial public offers, one by Kishore Biyani-led Future Capital and another from Anil Ambani group's Reliance Power. The two public issues had seen demand worth over Rs 8,00,000 crore collectively, a large portion of which was diverted from the secondary market. While post-allotment Future Capital shares, close to Rs 16,000 crore is estimated to find its way to the secondary market, the allotment of shares in Reliance Power IPO would release more than Rs 1,00,000 crore. The refunds for unalloted shares of Future Capital, to list on February 1, would start on January 29, while that for Reliance Power would follow soon after. The refunds to qualified institutional investors alone are e...

Last year has been quite good for the investors in the domestic stock markets. Both Sensex and Nifty went up almost 50 percent from their previous year levels. The domestic markets are in a long-term bull run that started from 2003. We have seen many phases of short-term rallies and consolidation in this long bull run. These shorter rallies were always dominated by some sector's stocks based on market conditions and investors sentiments. We have seen huge variations in sectoral performance from 2006 to 2007. Market rallies in 2006 were mostly lead by IT, telecom, banking, real estate and sugar sectors whereas in 2007 real estate, infrastructure, banking, power and energy stocks outperformed the index. Positive investor sentiments among foreign as well as domestic investors encouraged a healthy flow of funds into the markets. Inflation, interest rates and rupee appreciation remained the main concerns in 2007, but they did not impact the investor sentiments in the market. Histori...