Corporate News

SENSEX 14900.76 -44.21
NIFTY 4468.70 -13.60


Sensex ends 44 points down
Stocks fall on global jitters but oil slide saves day
Stocks end lower amid lacklustre trade
Rupee drops to near 2-yr lows, RBI seen
KEC sees revenue doubling on likely nuclear sector orders

Tech Mahindra bags contract from U.S. telecom major
Vodafone-Essar dispute worsens
BHEL gets $490 m power plant order
Punj Lloyd gets $37 m Singapore order
Oil at five-month low, falls below $104 a barrel

Nuclear deal: Hard work lies ahead
India's nuke energy trade to touch Rs 4 lakh cr in 10 years: US
Fed budget deficit nearing $407 bn
We backed India on N-deal: China
Capt Nair in world's top 50 senior business chief list

Rel to tap global mkts for petroleum products
Punj Lloyd gets $37 mn Singapore order
Steel ministry suggests iron ore export tax hike
Next: Getting India in NSG
Prospects good for India nuclear pact: US
N-powered market puts Sensex back in bull orbit

Madras Aluminium shares up 20 pc on investment plans
N-deal was a bad idea from the start: NYT
New RBI chief on inflation and India's growth story
Bhel wins turnkey contract for 726 Mw power plant
Oil firms to boost naphtha export after KG gas flows

Stk/Mkt Reports/analysis:
Value Stocks /Media Sector
Logistic Sector Update
Post Session Commentary - Sep 9 2008
Marginally down
Sensex ends a tad above 14,900; Sterlite Industries tanks

Bharat Forge
Reliance Infrastructure
Mahindra and Mahindra /Sintex Industries
Mahindra Lifespace Developers, Capital Goods, Power
NTPC - Annual Report - 2007-2008


Source:ET, BS, BL, Sify, Deadpresident blog etc.

Vedanta Group announces restructuring plan, Interview with Anil Agarwal

Vedanta Group announces restructuring plan

Aiming to increase its efficiency, NRI Anil Agarwal-led Vedanta Resources on Tuesday announced a plan for re-aligning its corporate structure into three commodity focussed verticals.
The group structure would be simplified into three verticals -- copper and zinc-lead, aluminium and energy, and iron ore, Sterlite Industries informed the Bombay Stock Exchange.

Under the restructuring scheme, Sterlite would demerge its aluminium and energy businesses to Madras Aluminium Company Ltd (MALCO) with effect from April 1, 2009.

Pursuant to the scheme, for every four share held in Sterlite, the shareholders would get seven equity shares in Malco, Sterlite Industries (SIIL).

Further, for the demerger of Malco's investment into Sterlite, SIIL would issue one share for every 51 equity shares held in Malco.

Besides, the other aluminium business undertakings of the Vedanta Group would also be demerged into Malco, which include the aluminium foils plant at Sanaswadi, 51 per cent stake in Balco and 29.5 per cent stake in Vedanta Aluminium.

Meanwhile, a 100 per cent stake in Sterlite Energy Ltd (SEL) would also be demerged into Malco, the filing added. After the demerger, Malco would be renamed as Sterlite Aluminium Ltd. Under the scheme, Vedanta would transfer 79.4 per cent equity interest in Konkola Copper Mines Plc (KCM) to Sterlite.

Other related articles:
Sterlite to demerge aluminium, energy operations
Vedanta Resources restructures into 3 units
Vedanta to up iron ore capacity, eyes mining buys
Sesa Goa to up iron ore capacity, eyes mining buys
Vedanta restructures group into 3 commodity focused verticals

Madras Aluminium may be merged with Sterlite
Market weak; Sterlite falls on restructuring plans
Sterlite down 5% on swap ratio, sluggish zinc demand
Vedanta to boost Sesa Goa iron ore capacity, restructure group
Vedanta restructures holding companies
Sensex ends down 44pts; Sterlite drops 8%

Vedanta rolls out restructuring plans
Vedanta to up iron ore capacity, eyes mining buys
Vedanta Resources to restructure, to invest in aluminum
Sterlite: Dull metal
Vedanta to up iron ore capacity, eyes mining buys - Sify.com
Sterlite revamp: 7 Malco shares for 4 shares - Sify.com
---------------------------------------------------
Interview with Anil Agarwal, Tarun Jain, Vedanta
Vedanta to demerge Sterlite's alumina, energy biz

Vedanta Resources will create three commodity focus groups. The company will demerge alumina, energy business of Sterlite Industries. The company has announced USD 9.8 billion aluminium capex programme and aims to raise aluminium smelting capacity by 2.6 million tonnes per annum by 2012.
Vedanta will also transfer 79.4% stake in Konkola Copper Mines to Sterlite, he added. Sterlite shareholders will get seven shares of Malco for four shares held in Sterlite. On the other hand, Malco shareholders will get one Sterlite share for every 51 held. The scheme will be effective from April 1 2009, he said.
Anil Agarwal, Chairman said that Asarco buy will be closed by year-end. He said, "We are looking to invest Rs 115,000 crore for which we have already invested Rs 40,000 crore. We have Rs 30,000 crore in cash and we are going to invest Rs 75,000 crore further in three years’ time. We will have 1 million tonne of copper, 1 million tonne of zinc and 26 lakh tonne of aluminium. We have also kept a provision to acquire Asarco for USD 2.6 billion.”
Tarun Jain, CFO, Vedanta Resources has said that some part of Bharat Aluminium Company Limited (BALCO) option has been considered by valuers and there are no plans for raising equity in Sterlite Aluminium

More @http://www.moneycontrol.com/india/news/business/restructuring-to-unlock-value-for-all-shareholders-vedanta/22/50/355431


Source:ET, BS, BL, Sify, MC and etc

Nuclear family to take India on high-tech trip and other Corporate Stories

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

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

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.

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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.
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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

PE,VC updates

Advertorial: ISB's Private Equity Conference Today
Nimbus Communications Will Sell 26% Stake To Strategic Investors
News Roundup: Israel's Fishman and Dubai Ports Group eye Indian realty
Bobby Bedi To Tap AIM Or PE Funds For Kaleidoscope

IFCI Venture Capital Invests $4.6M In Marck Biosciences
Seventymm Raises $12 Million In Third Round From NEA Indo US Ventures
Ojas Venture Partners Invests In Mobile Tech Firm Mango
Matrix Partners Invests $7 Million In Mumbai Play School Tree House

Tata Power Picks Up 10% Stake In Australian Geothermal Co For $37.8M
News Roundup: Japan's Uniqlo eyes brands acqusitions in India & others
Coke Offers To Buy Chinese Juice Maker For $2.4B, Is India Next?
Aditya Birla's Open Offer For Apollo Sindhoori Shareholders At Rs 64

Hedge Fund Platinum Capital Management May Open A Shop In India
CLSA Launches Long Only Clean Water Asia Fund
GVFL-backed 20 Micron Files DRHP For Public Offering
Global Investment House Launches India Focused Long/Short Hedge Fund

SEBI Wants M&A Valuation To Be Disclosed To Shareholders
Bhave Wants To Up Single Shareholding Cap In Bourses To 15%
Manappuram Group Raises Second Round Of Funding From PE Investors
Warburg Pincus To Pick Up 30% Stake For $35M In Gangavaram Port
--------------------------------------------

Adlabs may buy Fame India ?
Sebi suggests 15% stake for strategic investors in SEs
BCCL picks up stake in Manhattan Communications
ARTHANOMICS 2008,Investment Banking and Private Equity Summit,6th and 7th of September 2008
PCCPL acquired stake in Parul Chemicals

BAE Systems awaits govt nod to pick 49% stake in Mahindras
Jai Corp raised Rs 5,686 cr through two VC funds
India-focused PE funds set to raise $5 bn by Dec
Pressmart Gets $6 Million VC Infusion for Expansion

Warburg Pincus buys 30% stake in new port in Andhra Pradesh
PE Funds infuse Rs 108 crore in Manappuram Group
Tata Power to buy 11% in Aussie company
PE Funds to acquire BT's stake in Tech Mahindra

Premji buys 10% Subhiksha stake
Global Investors invested Rs 411 crore in Moser Baer's solar photo voltaic business


Source:IndiaPE.com, VCCircle.com

DLF, Bharti, ONGC, Cairn India enter DJ BRIC 50 index

DLF, Bharti, ONGC, Cairn India enter DJ BRIC 50 index

Real estate giant DLF, telecom major Bharti Airtel and energy firms ONGC and Cairn India have made their way to the Dow Jones BRIC 50 Index, a blue-chip index measuring performance of 50 largest and most liquid companies in Brazil, Russia, India and China. The new entrants would replace four other Indian firms -- realty firm Unitech, Tata Motors, TCS and Satyam Computer -- on the investible index, global index major Dow Jones Indexes said in a statement.

The changes are part of the regular annual review of the index and would be effective as of the open of trading on September 22. Other Indian companies on the index include RIL, L&T, ICICI Bank, Infosys, SBI, RCOM, Tata Steel, HDFC, BHEL, Suzlon and ITC. Besides four Indian companies, other new components of the index would include three from Brazil -- BM&F Bovespa S/A Bolsa de Valores Mercadorias e Futuros, Companhia Energetica de Minas Gerais-CEMIG, Metalurgica Gerdau S/A Pref, two Chinese entities -- China COSCO Holdings Company Limited and China Communications Construction Co Ltd -- and Russia's Surgutneftegaz JSC.

The 10 companies exiting the index include Brazil's Banco Santander S/A Pref, Companhia de Gas de Sao Paulo Ord and Light S/A Ord, China's Jiangxi Copper Company and Trina Solar Limited ADS and Russia's Mobile Telesystems. The float-adjusted market capitalisation of the reconstituted Dow Jones BRIC 50 Index has increased to $920 billion from $852 billion as of September 2. The number of components in the index is fixed at 15 each for Brazil, India and China and five components for Russia to reflect the size of each market in the index.

---------------------------------
ArcelorMittal, RIL in WSJ's respected companies list
Infy, Wipro, Satyam among Buffett-fit stocks: S&P
N-deal: US-based ACA says India has not got 'clean waiver'
3G auction to begin on Monday
Inflation data on monthly basis?
Time short for N-deal approval: Rice
Industry hails NSG waiver, seeks opening up nuke energy
For bulls to remain in focus, 4265-4300 should be maintained

Source:ET

Stock,Mkt Reports from BusinessLine

http://www.thehindubusinessline.com/iw/index.htm

TECHNICAL ANALYSIS: Index OutlookSentiment on Indian bourses seesawed between hope and despair last week. The strong mid-week surge caused by crude oil’s decline below $110 was thwarted by the global wave of selling in equities that seeped into the Indian stock markets, ...

AUTOMOBILES: Automobiles: Working on a better product mixThe pause in demand due to high interest rates coupled with rising input costs have battered the auto sector in recent times. Raw material costs for five majors — Tata Motors, Ashok Leyland, Mahindra and Mahindra, Maruti Suzuki and ...


ENGINEERING: Capital goods: New moves on procurementCapital goods companies have begun to feel the heat from spiralling commodity prices. The average operating profit margins of companies in this space have fallen a good two percentage points, to about 16 per cent, in the June quarter. Raw ...

REAL ESTATE & CONSTRUCTION: Infrastructure: The escalation clauses start kicking inEfforts by infrastructure and construction companies to protect margins have revolved around attempts to pass on raw material price hikes to clients. Steel, cement, bitumen and diesel can account for as much as 60-65 per cent of the total ...

STOCKS: SAIL: BuyInvestors can consider buying the SAIL India stock, now trading at a price-earnings multiple of about 8.2 times its 2007-08 earnings. The valuation is at a discount compared to Tata Steel (9.4 times) and global steel majors. SAIL’s ...

MUTUAL FUNDS: Tata Equity P/E Fund: InvestInvestments can be considered in Tata Equity P/E Fund based on its improved performance over the past two years. The fund underperformed the benchmark Sensex by a significant margin in 2006, thus impacting its last three-year performance. ...

MUTUAL FUNDS: Sundaram BNP Paribas Select Midcap Fund: HoldInvestors can continue to hold the units of Sundaram BNP Paribas Select Midcap Fund (Sundaram Midcap), considering its long-term track record in generating returns. The fund has delivered an annual return of 42.1 per cent over a five-year ...

TECHNICAL ANALYSIS: Query Corner: What the charts sayPlease let me have your views on Ashok Leyland bought at Rs 56 and Jayaswal Neco purchased at Rs 81. Chandra ...

STOCKS: PSL: BuyInvestments with a long-term perspective can be considered in the stock of PSL, which is the country’s largest manufacturer of high grade helical pipes. ...

STOCK MARKETS: Bull's EyeE-mail your response by Tuesday to STOCK MARKETS: Baskets of XE-mail your guess before Tuesday to: TECHNICAL ANALYSIS: Tata SteelTata Steel moved listlessly between Rs 580 and Rs 600 in the early part of the week before recording a new closing low for 2008 on Friday. ...

TECHNICAL ANALYSIS:
Reliance Infra (September 07, 2008)
Unitech (September 07, 2008)
Infosys (September 07, 2008)
Tata Steel (September 07, 2008)
SBI (September 07, 2008)
Reliance (September 07, 2008)
Tech School: Descending triangles (September 07, 2008)
Index Outlook (September 07, 2008)
Query Corner: What the charts say (September 07, 2008

STOCKS: Everest Kanto Cylinders: BuyFresh investments can be considered in the stock of Everest Kanto Cylinders, a leading manufacturer of high-pressure CNG (compressed natural gas) and industrial cylinders. At the current market price of Rs 288, the stock trades at about 14 ...

STOCKS: Bank of Baroda: HoldBank of Baroda (BoB) shareholders can consider staying invested in the stock at the current price of Rs 294.65. The stock trades at 1.13 times the company’s 2007-08 book value and 7.5 times the earnings, translating into 0.93 times ...

DERIVATIVES MARKETS: Nifty future may drift lowerMarkets seem to have lost their momentum midway. After witnessing wild swings intra-week, the Nifty September future finished marginally lower at 4352.2 points against the previous week’s close of 4370.55, shedding little over 0.4 per ...

STOCK MARKETS: Beta exposure: Is direct investment better than index funds?Readers may be aware of the core-satellite approach to portfolio management. This involves constructing a core portfolio for the beta (market) exposure and a satellite portfolio for the alpha (excess) returns. There were couple of interesting ...

Source:BL