Nuclear family to take India on high-tech trip
http://economictimes.indiatimes.com/articleshow/3456483.cms
The Nuclear Suppliers’ Group (NSG) has lifted obstacles to India buying products and technologies associated with civilian uses of nuclear technology from (and selling these to) most significant nuclear powers save the US. To enable civil nuclear commerce with the US, that country’s legislature must ratify the 123 Agreement finalised between the Bush administration and New Delhi. The implications are not just for nuclear energy, significant as these are — our existing reactors running short of fuel would be able to run at full capacity and we would be able to set up new nuclear plants. While National Security Advisor MK Narayanan announced on TV that a grateful India would let the US have a large share of India's domestic market for nuclear energy, right now, the competitive advantage in terms of standardised reactor design, scale and, therefore, costs, is with France and Russia. There is also the perception in some circles that the US conditions on supply of nuclear materials might turn out to be unacceptably stringent and intrusive, going by the State department's answers to the House Foreign Relations Committee.
Vital sectors of the economy stand to benefit from access to a range of high-technology products and technologies that had, till now, been outside India’s reach because of its status as a nuclear outsider. Many advances in materials, communications, computing, signalling, chemical processing and avionics are deemed sensitive technologies not accessible to nuclear have-nots. Access to these technologies opens up now. This will improve efficiencies across the board in India, from weather forecasting to oil refining. But the biggest gain is strategic. Non-proliferation activists objected to what they called India's sweetheart deal on the ground that it gives India an exceptional status: It is the only country that possesses nuclear bombs but is not part of the Nuclear Non-Proliferation Treaty to be accepted into the community of nations allowed to legitimately engage in nuclear commerce. The major powers of the world have recognised India’s status as a growing power whose potential to contribute to a stable global order is huge. It is that recognition that persuaded them to work out the current exception to nuclear convention in the form of the waiver from NSG. As India strengthens its strategic capabilities with the help of technologies made accessible as a result of the deal, it would put an end to the current situation of an ever-widening strategic gap between China and the rest of Asia. As India steps into its now acknowledged role as a balancer of power, it will benefit India and the world. Prime Minister Manmohan Singh and the ruling UPA will gain credit for having made this global breakthrough, against much opposition and at the risk of losing power.
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Tatas shocked by Singur deal; say project unviable
Tata Motors declines to give any reaction
Industries see Rs 1.2 trillion investment in nuclear power
Videocon, Jindal, 38 others in race to set up N-power plants
KEC International bags two orders worth Rs 217 crore
Nuclear deal to power India Incbs growth engine
OPEC considers cutting oil production
Industry sees Rs 120k-cr business opportunity
Source:ET
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08 September 2008
Power, bank stocks flare up; Sensex up 461 pts
Equities rise on nuke deal, Freddie, Fannie bailout
Indian shares on Monday got a boost from the NSG waiver to India-US nuclear deal and rally in Asian and European markets on take over of US mortgage giants Fannie May and Freddie Mac by US government. Market opened with a gap-up mirroring a strong rally in Asian peers. Investors covered shorts and took fresh positions in capital goods, power and banking stocks. But the indices lost momentum towards end of trade as profit booking set in.
Bombay Stock Exchange’s Sensex closed at 14,944.97, up 461.14 points or 3.18 per cent. The index touched a high of 15,107.01 and low of 14,917.06 intraday. National Stock Exchange’s Nifty ended at 4,482.30, up 130 points or 2.99 per cent from Friday. The broader index touched a high of 4,558 and low of 4,358.30 during the day.
BSE Midcap Index closed 1.15 per cent higher at 5819.89 and BSE Smallcap Index advanced 1.12 per cent to 6,982.77. Sterlite Industries (5.88%), ICICI Bank (4.89%), State Bank of India (4.81%), Larsen & Toubro (4.63%) and NTPC (4.58%) were the biggest Sensex gainers. There were no losers in the 30-share index. Analysts don’t expect the market rally to sustain as there are no visible positive triggers to drive the market.
“What happened today was on expected lines. Two events--NSG waiver and bailout of American banks--changed market sentiments. But market will be range-bound from here on and may face pressure 300-400 points on the upside,” said Subramanyam Pisupathi, head of research, Ventura Securities. Subramanyam is of the view that rate sensitive banking sector may move higher from current levels as factors like inflation and interest rates are close to peaking. The BSE Bankex closed 4.06 per cent higher at 7,464.24.
“Banking sector looks promising at these levels as inflation looks peaked out and interest rates may be one step from peaking out. Yield on government paper has come down from 9.15 per cent or thereabouts to 8.5 per cent and that is a good sign. We expect less provisioning in second quarter and may see investments even at these levels,” he added. According to him, euphoria in power stocks is over-stretched and investors may book profits now as fundamentals of these companies won’t be changing so soon.
BSE Capital Goods Index and BSE Power Index, which led the gains in morning, ended 3.70 per cent and 3.36 per cent higher but off highs. In stock specific action, KEC International ended up 4.11 per cent at Rs 424.10 after bagging two orders worth Rs 120 crore from NTPC Electric Supply Company and Rs 97 crore from Power Grid Corporation of India. Shares of Tata Communications ended up 5.37 per cent at Rs 447.40 after the company and BitGravity, a next-generation content delivery network for interactive broadcasting, reported the worldwide launch of Tata Communications’ CDN service..
Dolphin Offshore shares were locked at 20 per cent upper circuit at Rs 281.15 after it won two contracts worth Rs 304 crore from ONGC. Shares of Suzlon Energy gained 4.59 per cent to Rs 235.80 after the company completed 51 MW wind power project for ONGC. Bilpower ended up 3.14 per cent at Rs 170.75 after it signed $30 million contract with the Ghana government for EPC contract for rural electrification. On the BSE, advances numbered 1,665 and declines 1,034. European markets were higher but FTSE 100 had given away some intra-day gains at the time Indian market closed. It was up 1.46 per cent, CAC 40 was up 4.94 per cent and DAX moved 3.57 per cent higher.
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Market rally continues; ICICI Bank, Reliance Infra lead
12 new firms set to enter mutual fund space
Infosys to rethink expansion plan in West Bengal
JSW Steel August crude steel output up 7%
Lakshmi Mittal wins Forbes Lifetime Achievement Award
Source:ET
Labels:
bank stocks flare up; Sensex up,
power
Investors Guide from ET, Stock Recomm from BS
Investor's Guide from ET
Economic slowdown is no longer academic prophecy
Time for the Tsunami / Currency futures: Best of both worlds
Mkt in an intermediate uptrend I 20 Microns: Mining for more
-------------------------------------
Market in an intermediate uptrend8 Sep, 2008, 0412 hrs IST, Deepak Mohoni
The main indices crossed their intermediate uptrend trigger levels last Monday. The CNX Midcap index was already in an uptrend.
Time for the Tsunami 8 Sep, 2008, 0404 hrs IST, Shakti Shankar Patra
For the theory that this article has been propounding for the past few weeks - the Nifty not budging anywhere until the Dow Jones Industrial Average breaks out above 11,750 or below 11,000.
Cement sector feels the pinch of slowdown 8 Sep, 2008, 0359 hrs IST, Shikha Sharma
The cement sector is feeling the pinch of a slowdown in sales growth as well as shrinking profits.While small and medium companies have reported higher topline growth than large firms, they have fared poorly in terms of net profit
Austral Coke for long-term investors 8 Sep, 2008, 0355 hrs IST, Santanu Mishra
Austral Coke’s expansion plans look ambitious, but they come with their own execution risks. Only long-term investors should buy this scrip.
Increasing consumption of high-grade stainless steel 8 Sep, 2008, 0350 hrs IST, Santanu Mishra
A prosperous middle class and rising industry growth will ensure an increase in the consumption of high-grade stainless steel in the country.
Best of both worlds 8 Sep, 2008, 0350 hrs IST, Devangi Joshi
With a modest margin requirement, investors can easily use currency futures to hedge their positions in the commodity market and vice versa.
High & dry 8 Sep, 2008, 0348 hrs IST, Ramkrishna Kashelkar
A long-lead project, risky nature of business and steep pricing make Chemcel Biotech’s IPO unattractive.
Mining for more 8 Sep, 2008, 0346 hrs IST, Ramkrishna Kashelkar
Given 20 Microns’ expansion plans and likely boost in profitability, investors can subscribe to the IPO with a long-term outlook.
Strained economy appears to be sapping capital goods industry 8 Sep, 2008, 0343 hrs IST, Ashish Agrawal
But with no let-up in the sector’s order bookings & backlog and core operations strongly contributing to profits, things can look up for the sector in future.
Bull's eye 8 Sep, 2008, 0342 hrs IST
Merrill Lynch has maintained its ‘underperform’ rating on Raymond as the near-term earnings will remain subdued with denim continuing to be a huge drag on overall performance.
-------------------------------------------------
Week Ahead: Large gains seem unlikely - BS
The market swung sharply up in one session and plunged through the rest of the week. The Nifty closed at 4,352.3 points for a nominal week-on-week loss of 0.2 per cent. The Sensex lost 0.5 per cent to close at 14,564 points. The rupee lost ground steadily and the Defty lost over 2 per cent as a result. The FIIs were heavy net sellers and the local institutions were net buyers.
Breadth signals turned sharply negative on Friday. Volumes improved slightly from the past week. The Bank Nifty and the CNXIT both registered gains but almost every other sector lost a little ground. The Junior was down 0.5 per cent while the BSE 500 was down 0.3 per cent.
Outlook: The short-term trend is clearly negative. The intermediate trend may be changing for the worse. Next week could see either range-trading (with small gains) or it could see significant losses. Big gains seem unlikely. Most likely the market will stay inside 4,200-4,500.
Rationale: The intermediate uptrend is 8 weeks old - enough time to reverse though it could run up for another month. It has seen lower tops last week of 4,522 (September 2) versus 4,649 (August 12). But there is excellent support below current levels, at 4,300 and a secondary support between 4,150-4,200. On the upside, there's resistance building above 4,500 and probably at 4,450 as well.
The last three weeks have been characterised by very low volumes. Any improvement in volumes could result in a breakout in either direction. A close below 4,150 would confirm an intermediate trend reversal. A close above 4,650 would set up a target of 4,750-4,800.
Bulls & bears: There were astonishing volumes generated by two new listings, Resurgere and Austral. Apart from that, banking saw a sell off on Friday after a strong week. The CNXIT held its ground though individual counters like Wipro and Educomp were weak.
A drop in global crude prices translated into buying sentiment for BPCL, HPCL and IOC while a cut in Indian ATF prices meant a boost for Jet Airways and Deccan. Apart from these, there were isolated winners such as Aban, Biocon, and Ranbaxy saw price collapse after the open offer closed.
MICRO TECHNICALS
Aban Current price : Rs 2,294.7Target price: Rs 2,500
The stock is coming off a low at Rs 2,000 with very strong volumes. A V-shaped recovery till the Rs 2,500 level could occur. Keep a stop at Rs 2,200 and go long. Be prepared for daily moves of up to 10 per cent. If the stock closes above Rs 2,500, it could run till Rs 2,650.
Cipla
Current price: Rs 233.45 Target price: Rs 220
The stock has been sold down quite heavily from the Rs 240-plus level. It has a potential support at Rs 225 and this is the minimum downside target. It is more likely to fall till the Rs 220 level however, where a secondary support will hold
Jet Airways Current price: Rs 540.90Target price: Rs 570
The stock has jumped from 450 in just five sessions on decent volumes. At Rs 520, it completed a bullish breakout with a potential target of Rs 570. However there is powerful resistance between the current price and Rs 575. This could mean big intra-day moves and not much in the way of net gains. Keep a stop at Rs 530 and go long. Book profits over Rs 565.
RCom Current price: Rs 394.5 Target price: Rs 420
The stock appears to have found reliable support between Rs 380-400 and this looks like a stable bottom formation. It has the potential to jump to Rs 420 on the slightest volume expansion. The signal would be a close above Rs 400. Keep a stop at Rs 385 and go long with a 10-session perspective.
Source:ET, BS.
Economic slowdown is no longer academic prophecy
Time for the Tsunami / Currency futures: Best of both worlds
Mkt in an intermediate uptrend I 20 Microns: Mining for more
-------------------------------------
Market in an intermediate uptrend8 Sep, 2008, 0412 hrs IST, Deepak Mohoni
The main indices crossed their intermediate uptrend trigger levels last Monday. The CNX Midcap index was already in an uptrend.
Time for the Tsunami 8 Sep, 2008, 0404 hrs IST, Shakti Shankar Patra
For the theory that this article has been propounding for the past few weeks - the Nifty not budging anywhere until the Dow Jones Industrial Average breaks out above 11,750 or below 11,000.
Cement sector feels the pinch of slowdown 8 Sep, 2008, 0359 hrs IST, Shikha Sharma
The cement sector is feeling the pinch of a slowdown in sales growth as well as shrinking profits.While small and medium companies have reported higher topline growth than large firms, they have fared poorly in terms of net profit
Austral Coke for long-term investors 8 Sep, 2008, 0355 hrs IST, Santanu Mishra
Austral Coke’s expansion plans look ambitious, but they come with their own execution risks. Only long-term investors should buy this scrip.
Increasing consumption of high-grade stainless steel 8 Sep, 2008, 0350 hrs IST, Santanu Mishra
A prosperous middle class and rising industry growth will ensure an increase in the consumption of high-grade stainless steel in the country.
Best of both worlds 8 Sep, 2008, 0350 hrs IST, Devangi Joshi
With a modest margin requirement, investors can easily use currency futures to hedge their positions in the commodity market and vice versa.
High & dry 8 Sep, 2008, 0348 hrs IST, Ramkrishna Kashelkar
A long-lead project, risky nature of business and steep pricing make Chemcel Biotech’s IPO unattractive.
Mining for more 8 Sep, 2008, 0346 hrs IST, Ramkrishna Kashelkar
Given 20 Microns’ expansion plans and likely boost in profitability, investors can subscribe to the IPO with a long-term outlook.
Strained economy appears to be sapping capital goods industry 8 Sep, 2008, 0343 hrs IST, Ashish Agrawal
But with no let-up in the sector’s order bookings & backlog and core operations strongly contributing to profits, things can look up for the sector in future.
Bull's eye 8 Sep, 2008, 0342 hrs IST
Merrill Lynch has maintained its ‘underperform’ rating on Raymond as the near-term earnings will remain subdued with denim continuing to be a huge drag on overall performance.
-------------------------------------------------
Week Ahead: Large gains seem unlikely - BS
The market swung sharply up in one session and plunged through the rest of the week. The Nifty closed at 4,352.3 points for a nominal week-on-week loss of 0.2 per cent. The Sensex lost 0.5 per cent to close at 14,564 points. The rupee lost ground steadily and the Defty lost over 2 per cent as a result. The FIIs were heavy net sellers and the local institutions were net buyers.
Breadth signals turned sharply negative on Friday. Volumes improved slightly from the past week. The Bank Nifty and the CNXIT both registered gains but almost every other sector lost a little ground. The Junior was down 0.5 per cent while the BSE 500 was down 0.3 per cent.
Outlook: The short-term trend is clearly negative. The intermediate trend may be changing for the worse. Next week could see either range-trading (with small gains) or it could see significant losses. Big gains seem unlikely. Most likely the market will stay inside 4,200-4,500.
Rationale: The intermediate uptrend is 8 weeks old - enough time to reverse though it could run up for another month. It has seen lower tops last week of 4,522 (September 2) versus 4,649 (August 12). But there is excellent support below current levels, at 4,300 and a secondary support between 4,150-4,200. On the upside, there's resistance building above 4,500 and probably at 4,450 as well.
The last three weeks have been characterised by very low volumes. Any improvement in volumes could result in a breakout in either direction. A close below 4,150 would confirm an intermediate trend reversal. A close above 4,650 would set up a target of 4,750-4,800.
Bulls & bears: There were astonishing volumes generated by two new listings, Resurgere and Austral. Apart from that, banking saw a sell off on Friday after a strong week. The CNXIT held its ground though individual counters like Wipro and Educomp were weak.
A drop in global crude prices translated into buying sentiment for BPCL, HPCL and IOC while a cut in Indian ATF prices meant a boost for Jet Airways and Deccan. Apart from these, there were isolated winners such as Aban, Biocon, and Ranbaxy saw price collapse after the open offer closed.
MICRO TECHNICALS
Aban Current price : Rs 2,294.7Target price: Rs 2,500
The stock is coming off a low at Rs 2,000 with very strong volumes. A V-shaped recovery till the Rs 2,500 level could occur. Keep a stop at Rs 2,200 and go long. Be prepared for daily moves of up to 10 per cent. If the stock closes above Rs 2,500, it could run till Rs 2,650.
Cipla
Current price: Rs 233.45 Target price: Rs 220
The stock has been sold down quite heavily from the Rs 240-plus level. It has a potential support at Rs 225 and this is the minimum downside target. It is more likely to fall till the Rs 220 level however, where a secondary support will hold
Jet Airways Current price: Rs 540.90Target price: Rs 570
The stock has jumped from 450 in just five sessions on decent volumes. At Rs 520, it completed a bullish breakout with a potential target of Rs 570. However there is powerful resistance between the current price and Rs 575. This could mean big intra-day moves and not much in the way of net gains. Keep a stop at Rs 530 and go long. Book profits over Rs 565.
RCom Current price: Rs 394.5 Target price: Rs 420
The stock appears to have found reliable support between Rs 380-400 and this looks like a stable bottom formation. It has the potential to jump to Rs 420 on the slightest volume expansion. The signal would be a close above Rs 400. Keep a stop at Rs 385 and go long with a 10-session perspective.
Source:ET, BS.
India US Nuclear Deal Beneficiaries
India US Nuclear Deal Beneficiaries
Larsen & Toubro
Bharat Heavy Electricals
National Thermal Power Corporation
Areva T&D India
Alstom Projects India
Rolta India
Gammon India
Hindustan Construction Company
ABB
Crompton Greaves
Walchandnagar Industries
Reliance Energy
Tata Power Company
Larsen & Toubro has done engineering, procurement and construction projects for nuke power plants. It is currently working on the 2,000 megawatt Kudankulam nuclear project.
Bharat Heavy Electricals supplies up to 500 megawatt of equipment to Nuclear Power Corporation. It has an existing tie-up with Siemens for nuclear technology.
National Thermal Power Corporation is reportedly in talks with Nuclear Power Corporation of India for setting up a 2000 megawatt nuclear plant.
Areva T&D is reportedly looking at a plant for uranium mining and recycling. The plant would be set up after nod from Nuclear Power Corporation.
Alstom Projects India already makes nuclear reactors and rotors. Its parent company is a world leader in conventional nuclear projects. It makes turbines for nuclear power stations.
Rolta India along with its joint venture Stone and Webster provides reactor-building technology. Stone & Webster’s parent has 20% in Westinghouse Electric, a nuclear reactor maker.
Gammon India has undertaken turnkey construction for nuclear projects.
Hindustan Construction Company has constructed four nuclear power projects in India. It is an engineering procurement and construction contractor for nuclear projects.
ABB makes components for power projects. Its parent company’s exposure includes new nuclear power plants, systems and components.
Crompton Greaves works with Nuclear Power Corporation of India. It has completed a switchyard for nuclear project.
Walchandnagar Industries makes critical equipment for India’s nuclear power facilities.
Reliance Energy reportedly plans to invest additional Rs 12,000 crore in nuclear power capacity. It plans to install 2000 megawatt of nuclear power capacity.
Tata Power Company has tied up with some major nuclear equipment suppliers like Areva. It already has a relationship with Toshiba.
------------------------------------------------
Other Articles/analysis from same blog:
Oil Remaining in the World
Most Popular Pages - Sep 7 2008
Ultratech Cement - Annual Report - 2007-2008
EKC
PSL
SAIL
DLF - Annual Director's Report - 2007-2008
NTPC / Weekly Watch - Sep 7 2008
Top Picks - Sep 7 2008
Historic day for India - PM
BREAKING - Deal Done - NSG Waiver for India
BREAKING - India gets NSG Waiver
Ranbaxy, TCI / ONGC / Asia's Youngest Billionaires
HCL Infosystems / Suzlon Energy Ltd
GAIL /Sadbhav Engineering
Sun TV, Axis Bank / GSPL
Source: www.Deadpresident.blogspot.com
Larsen & Toubro
Bharat Heavy Electricals
National Thermal Power Corporation
Areva T&D India
Alstom Projects India
Rolta India
Gammon India
Hindustan Construction Company
ABB
Crompton Greaves
Walchandnagar Industries
Reliance Energy
Tata Power Company
Larsen & Toubro has done engineering, procurement and construction projects for nuke power plants. It is currently working on the 2,000 megawatt Kudankulam nuclear project.
Bharat Heavy Electricals supplies up to 500 megawatt of equipment to Nuclear Power Corporation. It has an existing tie-up with Siemens for nuclear technology.
National Thermal Power Corporation is reportedly in talks with Nuclear Power Corporation of India for setting up a 2000 megawatt nuclear plant.
Areva T&D is reportedly looking at a plant for uranium mining and recycling. The plant would be set up after nod from Nuclear Power Corporation.
Alstom Projects India already makes nuclear reactors and rotors. Its parent company is a world leader in conventional nuclear projects. It makes turbines for nuclear power stations.
Rolta India along with its joint venture Stone and Webster provides reactor-building technology. Stone & Webster’s parent has 20% in Westinghouse Electric, a nuclear reactor maker.
Gammon India has undertaken turnkey construction for nuclear projects.
Hindustan Construction Company has constructed four nuclear power projects in India. It is an engineering procurement and construction contractor for nuclear projects.
ABB makes components for power projects. Its parent company’s exposure includes new nuclear power plants, systems and components.
Crompton Greaves works with Nuclear Power Corporation of India. It has completed a switchyard for nuclear project.
Walchandnagar Industries makes critical equipment for India’s nuclear power facilities.
Reliance Energy reportedly plans to invest additional Rs 12,000 crore in nuclear power capacity. It plans to install 2000 megawatt of nuclear power capacity.
Tata Power Company has tied up with some major nuclear equipment suppliers like Areva. It already has a relationship with Toshiba.
------------------------------------------------
Other Articles/analysis from same blog:
Oil Remaining in the World
Most Popular Pages - Sep 7 2008
Ultratech Cement - Annual Report - 2007-2008
EKC
PSL
SAIL
DLF - Annual Director's Report - 2007-2008
NTPC / Weekly Watch - Sep 7 2008
Top Picks - Sep 7 2008
Historic day for India - PM
BREAKING - Deal Done - NSG Waiver for India
BREAKING - India gets NSG Waiver
Ranbaxy, TCI / ONGC / Asia's Youngest Billionaires
HCL Infosystems / Suzlon Energy Ltd
GAIL /Sadbhav Engineering
Sun TV, Axis Bank / GSPL
Source: www.Deadpresident.blogspot.com
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