Top five picks of the day and Heard on the Street : ET

Top five picks of the day

Top five picks of the day 21 Oct 2009, 0521 hrs IST

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Domestic shares closed 0.6% lower in see-saw trade on Tuesday, pulled down by Reliance Industries (RIL) on investor nervousness over the start of a court hearing in the energy giant’s dispute with Reliance Natural Resources (RNRL). The Supreme Court started hearing arguments in the case between RIL led by billionaire Mukesh Ambani , and RNRL, led by his younger brother Anil, over a deal to sell gas to the latter at below-market rates as per a family settlement. Check out top five picks of the day by Birendrakumar Singh,Technical Analyst, Religare Cap (Views expressed are personal. The chartist may have interest in some or all the stocks.)

Hexaware Technologies Ltd 21 Oct 2009, 0521 hrs IST

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Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History Recommendation:Buy Last Close: Rs 91.40 Target: Rs 105 Stop Loss: Rs 85 The stock has witnessed a strong breakout after crossing Rs 90, it has been moving in a consolidation for past eleven trading sessions. The breakout is accompanied by heavy volume and is likely to move up to Rs 105, maintain a stop loss of Rs 85.

LIC Housing Finance Ltd 21 Oct 2009, 0520 hrs IST

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Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History Recommendation:Buy Last Close: Rs 839.05 Target: Rs 890 Stop Loss: Rs 817 LIC Housing Finance has been moving in a narrow range for past three trading sessions, giving rise to a “Pennant” like pattern. It has witnessed a breakout of the “Pennant” while doing so it has also given a close above its all-time high. It is now likely to move up to 890 levels. It has a resistance at Rs 868 at which one can raise the stop loss to Rs 825 from Rs 817.

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Heard on the street

Heard on the street 21 Oct 2009, 0421 hrs IST, ET Bureau

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New releases, multiplex expansion lift K Sera Sera The stock price of K Sera Sera has gained close to 35% in the past one month alone. The buzz is that the company is betting big on some of its new releases that are in the pipeline. It has made an investment of close to Rs 100 crore in about 10 movies, out of which two will be released shortly. Some of its past blockbusters include Guru, Partner and Sarkar, among others. The stock, trading at its 52-week high, closed at Rs 21, down almost 2% from its previous close on huge volumes. Brokers say the firm is also planning to set up a chain of smaller version of multiplexes (having lower seating capacity) in tier-II cities in the next few months. The expansion would be part-funded with the money it recently raised in the GDR market. When contacted, a senior company official confirmed the developments, but refused to divulge details on the same. ISP licence buzz triggers selective buying in Zylog THERE’S a selective buying in Zylog Systems shares, following a buzz that the Chennai-based company has completed its Wi-Fi pilot project. It is expected to put in place about 4000 Wi5-enabled nodes against 250 currently installed in Chennai, within a year to make its entry in the ISP business. It has obtained a category-A internet service provider licence to operate in all DoT circles. Similar Wi-Fi services will be made available in Bengaluru, Delhi, Mumbai, Hyderabad and Kolkata. The stock closed at Rs 343, down almost 1.9% from its previous close, after gaining close to 5% in the past one month. The company may also lease its infrastructure and expand overseas, after complete services rollouts. When contacted, a senior company official declined to comment on the development. India Inc’s funds hunt a boon for small i-banks THE sharp surge in fund raising among India Inc, especially among the mid-tier Indian corporates, has proved to be a bonanza for small boutique investment banks. With M&A deals few and far between in the current environment, many of these boutique investment bankers are looking at innovative strategies to boost their business. For instance, in the event that a small or mid-sized company was to approach a boutique bank to do a QIP, these banks, which come in as advisors, turn to large domestic or foreign brokerages with the FII and FI connectivity to place the trade. These tie-ups are at best informal understanding where boutique banks are trying to lever on the brokerages distribution size and network. Contributed by Apurv Gupta & Deeptha Rajkumar

Src: Economictimes.Indiatimes.com