Sensex ends at 17 month closing high

Sensex ends at 52-week closing high

Sensex ends at 52-week closing high 14 Oct 2009, 1545 hrs IST, ET Bureau

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What moves the stock markets? Points to remember in investing Interest rate futures trading Tips to build an equity portfolio MUMBAI: Equities mirrored gains in global markets and ended sharply higher as better corporate earnings raised hopes of strengthening of global economy. ( Watch ) Bombay Stock Exchange’s Sensex ended at 17236.02, up 209.35 points or 1.23 per cent. The index touched 52-week high of 17274.59 and low of 17117.90. National Stock Exchange’s Nifty closed at 5120.20, up 65.95 points or 1.30 per cent. The broader index hit one-year high of 5127.40 and low of 5054.35. BSE Midcap Index gained 1.95 per cent and BSE Smallcap Index moved 1.50 per cent higher. Biggest Sensex gainers were Mahindra & Mahindra (6.52%), Hindalco Industries (5.74%), Jaiprakash Associates (5.49%), State Bank of India (5.27%) and Sterlite Industries (5.2%). Losers were Reliance Communications (-6.72%), Bharti Airtel (-3.39%), Reliance Infrasrtucture (-2.51%), Grasim Industries (-0.99%) and ACC (-0.73%). Market breadth on BSE showed 1670 advances against 1083 declines. (All figures are provisional)

Src: Economictimes.com

Stock Views - Source EconomicTImes.com

Religare top 5 picks of the day
14 Oct 2009, 0331 hrs IST

Here are top 5 picsk by Religare.

Broking house: Angel Broking
14 Oct 2009, 0135 hrs IST

The bank’s recent equity dilution has strongly positioned it for revival in GDP growth. With its strong customer proposition and steady branch expansion, market share gains are expected.

Mid-term Pick: Bajaj Electricals
14 Oct 2009, 0134 hrs IST

With a strong brand and pan-India distribution network, the company is one of the fastest-growing players, it enjoys a market share of over 15-30% across products.

Mid-term Pick: Bayer CropScience
14 Oct 2009, 0133 hrs IST

The 800-cr turnover company is a leader in agri-chemical, where the opportunity for growth is vast, considering India produces 16% of the world’s total food grains, but utilises only 2% of pesticides.

Mid-term Pick: Madhucon Projects
14 Oct 2009, 0132 hrs IST

Cooling commodity prices will benefit MPL, as it has orders with fixed price contracts. It will also be one of the biggest beneficiaries of the improving liquidity.

Mid-term Pick: Reliance Industries
14 Oct 2009, 0130 hrs IST

RIL’s stock price has borne the brunt of negative news flows on the gas litigation front. However, we believe the current price has discounted the worst case scenario.

Broking house: Centrum Broking
13 Oct 2009, 0200 hrs IST

Quality low-cost land bank in NCR, strong cash flows from build-and-sell and the rental business model, cash reserves to enable acquisition of distressed assets.

Mid-term Pick: Shoppers Stop
13 Oct 2009, 0200 hrs IST

Profitable expansion of its stores and improvement in same-store-space-growth would improve profitability.

Mid-term Pick: Jindal Steel & Power
13 Oct 2009, 0159 hrs IST

A fully-integrated business model and increasing profits from power business making it a power company, and hence, would be valued accordingly.

Mid-term Pick: SAIL
13 Oct 2009, 0158 hrs IST

Improving GDP growth leading to better steel demand and expectation of 10% volume growth for next two years.

Heard on the Street

Heard on the Street


General Atlantic seen in talks to buy Bhilwara stake

US-Based PE investor General Atlantic is learnt to be in talks to pick up an equity stake in Bhilwara Energy, the power generation company of the LNJ Bhilwara Group for around $100-150 million, according to investment banking sources. “We are exploring a lot of opportunities, including selling stake to a private equity fund, but nothing has been firmed up yet,” said Riju Jhunjhunwala, executive director of Bhilwara Energy, while admitting that his firm was in talks with private equity firms. Bhilwara Energy is planning an investment of close to Rs 10,000 crore over the next five years. Earlier in 2007, Bhilwara Energy had raised a little over Rs 100 crore from New York Life Investment Management and Wachovia.

Ramsarup Industries in talks to raise Rs 100 cr

Ramsarup Industries, a Kolkata-based producer of steel wires, is believed to be in talks with institutional investors, including mutual funds, to raise close to Rs 100 crore to fund its expansion plans. It is learnt that the company has held talks with potential investors recently, but is yet to finalise the pricing of the share placement. A person familiar with the matter said the company is looking to place the shares at roughly Rs 110 per share. On Monday, Ramsarup shares ended at Rs 80.15, down 4.2%.

Broking houses to help themselves to liquidity

After having helped their clients raise money and also make some, brokerage firms feel it is time they helped themselves to some of the liquidity that is sloshing around, before it dries up. Three prominent domestic brokerage houses, all of them listed, are said to be looking to raise around $200 million each. The buzz is that they have already begun approaching institutional investors, hopeful that improved market conditions will help them get the desired valuations. Brokerage firms are expected to report strong growth in quarterly earnings, thanks to the upbeat mood in both the primary and secondary markets.

Patels Airtemp scrip inches up on HNI buy

Patels Airtemp is being accumulated at lower levels by HNIs and some MFs. The scrip which has been inching up on bourses, ended at Rs 58.60 on BSE on Monday. The company is debt free and has an order book of around Rs 100-110 crore. Given the government’s thrust on infrastructure, it is expected to sustain the momentum, feel analysts.


Reena Zachariah, Nishanth Vasudevan, Deeptha Rajkumar & Santosh Nair



Src:Economic Times.com

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