Check out the post-Budget winning potential of 42 mid-cap stocks

Check out the post-Budget winning potential of 42 mid-cap stocks

ET Bureau

Mid-caps are a minefield where investors have burnt their fingers, but they’re also a club where one can spot tomorrow’s winners. Suddenly automobile, mid-sized banks, and construction & engineering companies have become the new flavours. ETIG brings you a list of 42 such mid-caps.

ET has picked stocks with a market capitalisation between Rs 2,000 crore and Rs 10,000 crore, based on the average market cap for January 10. The final 42 have been selected keeping in mind the sectoral representation, and parameters like daily exchange turnover, price earning ratio, dividend yield and beta (which reflects a stock’s volatility).

Following are the details of the 42 mid-cap stocks:

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

OUTLOOK: POSITIVE

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Mkts: Sharp movements to be sector-specific

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Market intriguingly poised post-Budget

The Budget was well-received but the initial enthusiasm was dampened by selling in the latter part of the session. The Nifty hit a high of 4,992 points before falling back to close at 4,922 for a week- on-week gain of 1.6 per cent. The Sensex was up 1.47 per cent at 16,429 points. The Defty gained 2.1 per cent as the rupee continued to harden.

Breadth was fairly good though smaller stocks underperformed the pivotals. The BSE 500 was up 0.9 per cent and the Midcaps actually lost around 0.8 per cent. Volumes were strong on Thursday and Friday - not surprising given that settlement was followed immediately by the Budget. Domestic institutions were net sellers for the second week in succession while FIIs bought in moderate quantities.

Outlook: Market direction is still not very clear. The resistance at 5,000 was not conquered. However, the intermediate trend seems to have changed for the better. There have been successive higher peaks and support along a positive-looking trendline. The short-term trend could well be negative early next week if the sentiment of the last hour on Friday doesn't alter over the extended weekend.

Rationale: The market could open with a large gap in either direction on Tuesday since the fine print of the Budget will have been absorbed by then. The Nifty's trendline has looked positive since the last low of 4,675 on February 8. Higher peaks have been established at 4,951 (February 2) and 4,882 (February 26) - the second high came due to the Budget. On the upside, a break and close above 5,000 would be positive. On the downside, support above 4,800 should hold.

Counter-view: There are distinct chances of a negative swing early next week, given weak short-term signals on Friday, an apparently negative reaction to the Budget from domestic institutions and weakness overseas. The latter factor is imponderable but traders will get a clearer picture from overseas markets on Holi. If things get worse, the Nifty could take a bath on Tuesday. In that case, the benchmark support for the intermediate trend would be 4,675.

Bulls & bears: IT was the only industry to see major sell-offs on Friday though the CNXIT was up 0.9 per cent on the week. ITC also lost serious ground. Real estate stocks got a mixed reaction with several majors such as Unitech and DLF gaining while Indiabulls Real Estate lost a lot of ground. Energy stocks also saw mixed responses with OMCs and refiners losing ground while ONGC and Cairns gained.

Most other industries saw positive gains across the board though these were pared late in the day. Listed auto majors all registered major gains. Finance was another industry with big gains, especially across NBFCs and PSU banks. The Bank Nifty was up 2.8 per cent. Engineering and construction stocks like Larsen and GMR Infra saw strong buying. Metals and cement also saw bullishness as did pharma.

MICRO TECHNICALS

LARSEN & TOUBRO
Current Price: Rs 1,564.3
Target Price: Rs 1,650

The priceline has just completed a bullish saucer formation with a projected target in the range of Rs 1,650- Rs 1,670. There is also resistance in that zone. Keep a stop at Rs 1,550 and go long. Add to the position beyond Rs 1,580 and clear it at Rs 1,650.

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HERO HONDA
Current Price: Rs 1,777
Target Price: Rs 1,900

The stock hit a new high on strong volumes. The projected target is Rs 1880- Rs 1900 but error margins are large due to the stock being in a new zone. Keep a trailing stop at Rs 1,750 and go long. Increase the position above Rs 1,800. Reset the stop upwards by Rs 25 for every 25-point move.

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IDFC
Current Price: Rs 159.6
Target Price: Rs 167

The stock jumped on massive volume. It has sufficient momentum to test resistance at Rs 167 and it may go further. Keep a stop at Rs 156 and go long. Add to the position above Rs 161. Book 50 per cent profit at Rs 167 and reset the stop to Rs 165.

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SESA GOA
Current Price: Rs 400.35
Target Price: Rs 415

The stock has shot up on high volumes. It's likely to move until the Rs 415- Rs 420 level before running into heavy resistance. Keep a stop at Rs 395 and go long. Start booking profits above Rs 415. But note that if Sesa Goa closes above Rs 420, it could run until Rs 440.

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MOSER BAER
Current Price: Rs 75.85
Target Price: Rs 81

The stock jumped from its 2010 low on very high volume. Too early to say if this is a long-term trend reversal or a technical recovery. However, there's enough momentum to go to Rs 81- Rs 82. Keep a stop at Rs 73 and go long. Book profits above Rs 81.

High cash levels in Budget week 01-MAR-10 Uncertainty ahead of multiple events - Railway Budget, Economic Survey, derivatives expiry and the Union Budget saw fund managers get defensive and raise cash levels.

Analysts' corner 01-MAR-10 Tata Motors (TML) is expected to report a consolidated profit of Rs 130 crore for Q3FY10, its first since the JLR acquisition.

Sweet deal 01-MAR-10 The move to acquire Equipav will benefit Shree Renuka Sugars in the long run through backward integration and economies of scale.

Market intriguingly poised post-Budget 01-MAR-10 The Budget was well-received but the initial enthusiasm was dampened by selling in the latter part of the session.

Focus on the index 01-MAR-10 One cited cause for the downtrend was weak US economic data.

Tackling event risk 01-MAR-10 Performance cycles can harness event risk such as the Budget and offer an alternative strategy.

Please-all 01-MAR-10 Even as the Union Budget 2010-11 was largely in line with expectations, the markets rejoiced with the Sensex and Nifty closing higher by about a per cent each on Friday.

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Budget Analysis and Review - March 1 2010

Budget Report - March 1 2010

Budget Analysis - March 1 2010

Budget Highlights

Post Budget Report - March 1 2010

Weekly Newsletter - March 1 2010

Elgi Equipments

Mahindra Holidays and Resorts

IndusInd Bank

Piramal Healthcare

Src: ET, Business-Standard, DP Blog and etc

What does Budget 2010 hold for D-St's blue chips?

What does Budget 2010 hold for D-St's blue chips?

ET Bureau

The day traders may have played their game, but for millions of investors, it’s now time to sit back and read between Pranab babu’s lines. Maybe you need to take another look at your portfolio, tweak things around a bit. With service tax on rail freight, higher MAT and the partial rollback of stimulus, it will take a while to figure out whether the Budget is as friendly as it appears.

To make life a little easier, and give you an idea of what’s hot, ET, in association with ICICIdirect — an arm of ICICI Bank — gives you a sense of how the Budget will impact the fortunes of the 30 Sensex companies. We have identified the winners, the losers, and the also-rans. This, we hope, will keep you streets ahead in a world that’s full of surprises. So, read on...

ACC Ltd 27 Feb 2010, 0647 hrs IST

Print Save EMail Write to Editor

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History Recommendation: Sell The excise duty hike of 2% will be partially passed on to consumers. This will account for Rs 2-3/50-kg bag. However, the expected glut in the South will put pressure on pricing in CY10E. Thus, despite the 10% volume growth & rise in demand on account of infra spending, we expect the bottomline to fall 31% in CY10E.

More @ http://economictimes.indiatimes.com/articleshowpics/5622841.cms

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Fiscal consolidation vital to sustain future growth: Mark Mobius

What's cheaper/costlier after Budget 2010

Petrol, diesel turn costlier

FIIs lead market cheer

Pranab takes more than he gives

More private banks on the cards

Excise duty to pinch India Inc?

What's in it for you?

FM has fooled all experts

Bitter pill for drug makers

IT cos unhappy over MAT rate hike to 18%

IT cos unhappy over MAT rate hike to 18%

Tax slabs revised, more money in your hands

FM Pranab Mukherjee sprang a pleasant surprise on personal income-tax payers. Impact for resident individuals | Resident women below 65 | Senior citizens

Budget Speech

Finance Bill

Budget 2010 articles from Business-standard


Src: All Leading Websources.

BUDGET 2010 Highlights

Budget Special Highlights - 2010-2011

Highlights

• Service tax to result in net revenue gain of Rs 3000 cr
• Customs duty on silver at Rs 1500/kg
• Custom duty on gold to be reduced
• Mobile phones to be cheaper
• No capital gains tax on conversion of a business entity into Limited Liability Partnership
• To encourage manufacture of accessories such as battery chargers and hands-free sets, the concessions will be extended the mobile phone sector
• 5% customs duty on crude petroleum back
• Peak customs duty unchanged at 10%
• FM raises central excise duty on all non-petroleum products from 8 to 10 per cent
• Revenue loss of Rs 26,000 crore on direct tax proposals
• Stimulus-led excise duty rollback partially reversed
• FM allows housing projects to complete projects in 5 years instead of 4 years to avail tax break
• One-time interim relief to housing and real estate sector
• Businesses up to Rs 60 lakh and professionals up to Rs 15 lakh to be exempted from auditing obligations of their accounts
• Uproar in Parliament over petrol price rise
• To levy excise duty of Re 1/litre on petrol
• New tax rates would offer relief to 60 per cent of tax-payers
• CET on petroproducts hiked by Re 1
• Direct tax receipts to fall by Rs 56,000 cr
• Standard excise rate up from 8 to 10%
• Large cars, SUVs excise up to 22% from 20%
• Sops for real estate, housing projects extended by a year
• Partial roll back the rate reduction in central excise
• Direct tax scheme to result in revenue loss of Rs 26,000 cr
• Compliance burden reduced on professionals and entrepreneurs
• Corporate tax surcharge down from 10 to 7.5%
• New income tax slabs will bring relief to the middle class
• Rs 20,000 additional tax break for infra bonds
• Minimum Alternate Tax hiked to 18%
• R&D allocation increased 200%
• To unveil new Saral 2 form for salaried individuals in two pages
• Deduction of additional 10% for investment on infrastructure bonds
• Tax slabs: Broadening 1.6 lakh - Nil above 1.6 lakh-up to 5 lakh 10%
• 5-8 lakh- 20% above 8 lakh- 30%
• Tax paying interface to be de-cluttered
• States to be offered assistance to computerise commercial taxes
• Greater transparency in tax administration targeted
• Centralized Tax Centre at Bengaluru fully functional
• Fiscal deficit at 5.5% for FY'11
• Rolling target for fiscal deficit 4.2%
• Gross tax receipts at Rs 7.46 lakh cr
• New symbol for Indian Rupee
• Tech advisor group under Nandan Nilekani
• Allocation for development of micro and small scale sector raised from Rs 1,794 cr to Rs 2,400 cr
• Rs 2,600 cr for Minority Affairs Ministry
• To create 50 cr skilled workers by 2022
• Rs 1,900 cr to UID authority allocated
• First set of UID to be issued by this year
• Rs 19,484 cr allocated for road development, to build 20 km of highway every day
• Subsidy for affordable housing extended
• Skill development programme for textile and garment sector
• Pvt sector to meet deficit in grain storage
• 50% increase in women & child development allocation
• Development of rural infra remains high priority area
• Power sector allocation doubled to Rs 5130 cr
• Rs 400 cr corpus for micro-finance scheme
• National pension scheme allocation increased
• States to get Rs 3,675 crore for primary education at rural level
• Rs 400 cr corpus for micro-finance scheme
• NREGA allocation to Rs 40,100 crore
• National Social Security fund to be set up for unorganized sector
• Urban Development allocation to be raised by 75 per cent
• 20,000 mw of solar power by 2022
• Rural development allocation to Rs 61,000 cr
• Indira Awaas Yojana allocation raised in proportion to plain and hill area housing
• Development of rural infra remains high priority area
• Social sector spending at Rs 1.38 lakh cr for FY11
• Rs 500 cr for Clean Ganga Mission
• Rs 66, 100 cr for rural development in FY10-11
• Allocation for school education up from Rs 26, 800 crore to Rs 31, 036 cr
• Rs 22, 300 crore allocated for Health Ministry
• Coal regulatory authority proposed
• Rs 300 cr for Rashtriya Krishi Vikas Yojana
• Bank farm loan target: Rs 3.75 lakh crore
• Rs 200 cr To Tamil Nadu for textiles
• Need to take firm view on opening up of the retail sector
• National clean Energy Fund to be set up
• Rs 200 crore to Goa as a special golden jubilee package to restore beaches and increase green cover
• To provide 2% loan subsidy to farmers
• Extend loan payment by calamity hit farmers
• Rs 400cr for four-part strategy for agriculture
• 2% interest subvention for exports extended
• Additional banking licenses for pvt players
• 4 pronged strategy for agriculture
• Rs 16,500 cr capital support for PSU banks
• Will consider Parikh report on fuel pricing
• Goods and services tax to be introduced in 2011
• Fertiliser subsidy to be reduced
• GDP growth for FY'10 is seen at 7.2 pc
• Rs 25,000 cr disinvestment target this year
• India weathered economic crisis well
• Direct tax code to be implemented from April 1, 2011
• Gradual phasing out of economic stimulus
• Pvt investment can sustain 9 pc growth
• First challenge: Return to GDP growth
• Manufacturing growth highest in the past 2 years
• Indian economy is in a far better position today
• FM is expected to simplify tax laws in 2010
• Biggest challenge is to make the growth all inclusive
• Need to strengthen food security
• Pranab: Indian economy has stood through the test of time
• Economic growth slows down to 6 pc in Q3
• Finance Minister presents Budget 2010
• Pranab Mukherjee presents his 5th Union Budget
• Finance Minister Pranab Mukherjee reaches Parliament
• Inflation is forecast to reach 10 percent in coming weeks
• Government borrowing was forecast to rise by another 2.2 percent
• Economists forecast India may cut its fiscal deposit to 5.6% of GDP

Taxes

• More services to be brought under service tax net
• Service tax to result in net revenue gain of Rs 3000cr
• Customs duty on gold to be reduced; silver at Rs 1500/kg
• Uniform concessional duty of 5% on all medical appliances
• Rationalising of customs on gaming software
• Custom duty of one of the key component of microwave oven reduced
• Peak customs duty unchanged at 10%
• Custom duty for importing of duplication of prints of films revised
• No capital gains tax on conversion of a business entity into Limited Liability Partnership
• Businesses up to Rs 60 lakh and professionals up to Rs 15 lakh to be exempted from auditing obligations
• Nominal duty of 4% electric cars
• Partial rollback of excise duty on cement, cement products, large cars
• To levy excise duty of Re 1/litre on petrol
• R&D Corp Tax break up to 200%
• Direct tax receipts to fall by Rs 56,000 cr
• Pilot project for tax grievances extended to 4 cities
• Direct tax scheme to result in revenue loss of Rs 26,000cr
• Corporate tax surcharge down from 10 to 7.5%
• Rs 20,000 additional tax break for infra bonds
• Corp Min Alternate Tax up from 15 to 18%
• New tax rates would offer relief to 60 per cent of tax-payers
• Direct tax slabs: income upto 1.6 lakh = nil, 1.6-5 lakh = 10%, 5-8 lakh = 20%, above 8 lakh = 30%
• Centralized Tax Centre at Bengaluru fully functional
• Gross tax receipts Rs 7.46 lakh crore
• Deferment of goods & service tax negative for corporates in FY10-11
• Direct tax to be implemented from April 1, 2011
• Simple tax system with minimum exemptions near completion
• Indirect taxes will continue to be in focus
• Excise duty, service tax may go up by 2%

Prices

• More services to be brought under service tax net
• Service tax to result in net revenue gain of Rs 3000cr
• Customs duty on gold to be reduced; silver at Rs 1500/kg
• Uniform concessional duty of 5% on all medical appliances
• Rationalising of customs on gaming software
• Custom duty of one of the key component of microwave oven reduced
• Peak customs duty unchanged at 10%
• Custom duty for importing of duplication of prints of films revised
• No capital gains tax on conversion of a business entity into Limited Liability Partnership
• Businesses up to Rs 60 lakh and professionals up to Rs 15 lakh to be exempted from auditing obligations
• Nominal duty of 4% electric cars
• Partial rollback of excise duty on cement, cement products, large cars
• To levy excise duty of Re 1/litre on petrol
• R&D Corp Tax break up to 200%
• Direct tax receipts to fall by Rs 56,000 cr
• Pilot project for tax grievances extended to 4 cities
• Direct tax scheme to result in revenue loss of Rs 26,000cr
• Corporate tax surcharge down from 10 to 7.5%
• Rs 20,000 additional tax break for infra bonds
• Corp Min Alternate Tax up from 15 to 18%
• New tax rates would offer relief to 60 per cent of tax-payers
• Direct tax slabs: income upto 1.6 lakh = nil, 1.6-5 lakh = 10%, 5-8 lakh = 20%,
• above 8 lakh = 30%
• Centralized Tax Centre at Bengaluru fully functional
• Gross tax receipts Rs 7.46 lakh crore
• Deferment of goods & service tax negative for corporates in FY10-11
• Direct tax to be implemented from April 1, 2011
• Simple tax system with minimum exemptions near completion
• Indirect taxes will continue to be in focus
• Excise duty, service tax may go up by 2%

Full Speech - Budget - 2010-2011

India Income Tax Ready Reckoner

India Budget Strategy - Feb 26 2010

Budget 2010-2011

Nifty March 2010 futures above 4,900

Asian Markets Finishes Final Friday of February Fl...

More gains in store for equities on market-friendl...

Budget Special Highlights - 2010-2011

Union Budget Special - 2010-2011

Sensex off 230 points from the day's high as post-...

Src: Deadpresident Blog

Market gives thumbs up to Budget

FM revises tax slabs 26 Feb 2010, 1220 hrs IST Giving a relief to the middle class Pranab Mukherjee revised the tax slabs for the next fiscal. Income Tax Ready Reckoner

FM slaps excise duty of Re 1/l on petrol, diesel 26 Feb 2010, 1233 hrs IST The FM has slapped an excise duty of Re1/l on petrol and diesel. This has led to a ruckus in the parliament.

Middle of road Budget, 6 out of 10: Swaminathan Aiyar 26 Feb 2010, 1324 hrs IST The ways in which FM has cut the deficit down to 5.5% is expenditure compression, especially non-plan expenditure with only a 6% increase (adjusted for inflation) is hardly anything.

Rise in MAT to impact software firms 26 Feb 2010, 1448 hrs IST Small and mid-size outsourcing companies function from STPI units and tax benefits under the STPI scheme are getting phased out in 2010-11.

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Market gives thumbs up to Budget


MUMBAI: The market was pleased with Finance Minister’s Budget speech driving equity benchmarks sharply higher in afternoon

Top 5 stock picks Mid-term picks

trade.

Speaking in parliament, Pranab Mukjerjee said he had laid down a road map for reducing the country's fiscal deficit, which soared to a 16-year high of 6.9 per cent of economic output.

The shortfall would drop to 5.5 per cent in the next fiscal year to March 2011, and then 4.8 per cent in the following 12 months, though there would be no let up in the left-leaning government's focus on huge social programmes.

The Finance Minister also slapped an excise duty of Re 1 per litre on petrol and diesel. This has led to a ruckus in the parliament as the move would accentuate inflationary situation in the country. Some opposition members walked out of the house in protest.

National Stock Exchange’s Nifty surged 2.28 per cent or 110.75 points to 4970.50from its previous close. The index touched a high of 4992 during the course of the Budget proceedings after opening at a low of 4858.45.

Bombay Stock Exchange’s Sensex was at 16,604.95, higher by 350.75 points or 2.16 per cent. The index rose to a high of 16,669.25 from a low of 16,249.67.

The broader market also participated in the rally. The BSE Midcap Index surged 2.06 per cent and BSE Smallcap Index gained 1.65 per cent.

Sectorwise, the BSE Auto Index advanced 3.99 per cent, followed by BSE Realty which gained 3.71 per cent. BSE Bankex rallied 3.09 per cent and BSE Metal Index rose 2.89 per cent. The BSE IT Index, marginally down 0.25 per cent, was the lone laggard.

Biggest Nifty gainers were Reliance Capital (11.19%), IDFC (7.4%), DLF (7.29%), Tata Motors (5.71%) and Unitech (5.26%).

Tata Power (-4.34%), Ranbaxy Laboratories (-2.6%), HCL Technologies (-1.65%), BPCL (-0.57%) and Infosys Technologies (-0.47%) were trading with losses.

Market breadth on BSE was extremely positive with 1913 advances against 768 declines.

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Sensex cheers Union Budget 2010; auto, metals, banks lead

The benchmark Sensex salutes Union Budget 2010 unveiled by Finance Minister Pranab Mukherjee and rallied over 400 points during the day. Experts say it was a effect of short covering and positive reaction to budget. Technical Analyst, Ashwani Gujral said it’s just a short covering, so those who are long should exit. However, he feels impact of budget is over and the markets will react to the global cues.

Samir Arora of Helios Capital said the markets rallied due to low expectations from the budget. The markets will get back to global cues next week, he says.

The Nifty closed above the 4900 mark but the sell-off and profit booking in ITC on hike in excise, BHEL, Tata Power, TCS, Infosys and ABB erased more than 50% gains from day's high. Even heavyweights came off their day's high on profit booking at higher levels. It seemed that the markets discouted the budget.

Pranab Mukherjee in his second budget announced some positives like gradual reduction in fiscal deficit, cut in surcharge, more allocation for infrastructure development, increase in FY11 divestment target, increase in personal tax slab to Rs 8 lakh etc, which all these pushed the Nifty above 4950 level during the day. However, there were some negatives like hike in excise duties etc.

FM has increased tax slabs for Aam Adami, so that spending will increase. For income upto Rs 1.60 lakh, there will be no tax while there will be 10% tad for income between Rs 1.60 lakh to Rs 5 lakh; 20% tax for income between Rs 5 lakh to Rs 8 lakh and for income above Rs 8 lakh, there will be tax of 30%.

This will result into an increase in the disposable income of individuals and will boost the spending on necessary as well as luxury goods. Homi P Ranina, Tax Expert, says increase in the exemption limits is on expected lines. According to him, a person earning up to Rs 8 lakh will save Rs 54,000 a year by way of taxes.

The 30-share BSE Sensex closed at 16438, up 184 points and the Nifty was at 4922, up 62 points, as per provisional data. The Nifty March Future was trading with 14 points premium.

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Highlights of 2010/11 budget presented

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What's cheaper/costlier after Budget 2010

Pranab cracks it: FY11 fiscal deficit pegged at 5.5%

http://www.moneycontrol.com/budget2010/FM_speech/news_listing.php

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Budget speech (2010-11): Full text

Full text of Pranab Mukherjee's Budget 2010-11 speech‎ -

http://beta.thehindu.com/business/Economy/article113901.ece
‎

More @

http://budget.moneycontrol.com/


http://economictimes.indiatimes.com/unionbudget10.cms

Src: ET, Moneycontrol, Businessline and etc

BUDGET 2010

Watch these Sites For BUDGET 2010 Updates


http://economictimes.indiatimes.com/unionbudget10.cms


http://www.business-standard.com/runup10/


http://budget.moneycontrol.com/


http://budget.myiris.com/index.php

This is what the Economic Survey 2009-10 says

This is what the Economic Survey 2009-10 says!

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A day before the Budget, the Economic Survey on Thursday predicted up to 8.75 per cent growth in 2010-11 while recommending a gradual roll back of stimulus -- a move that could entail hike in excise duty and service tax.

Warning that high double digit food prices could lead to "higher-than-anticipated" general level of inflation, the Survey called for effective steps to be taken to remove supply-side bottlenecks together with other policies.

The Survey said the government policy, other calibrated measures and tax reliefs as contained in the stimulus have helped the economy shrug off effects of slowdown triggered by global financial meltdown in 2008.

The buoyancy in the economy in tandem with reforms would make India possibly the fastest growing economy in the next four years, it said while recommending that there was a need for improving government financial by way of raising tax and non-tax revenues and containing deficit.

Last week, the Prime Minister's Economic Advisory Council too had suggested partial roll back of stimulus measures, including raising excise duty and service tax rates.

The Survey also echoed this view: "The broad-based nature of the recovery creates scope for a gradual rollback, in due course, of some of the measures undertaken over the last 15-18 months. . . so as to put the economy back on to the growth path of nine per cent annually."

The economy is projected to grow by 7.2 per cent this fiscal with industrial and services sectors growing at 8.2 and 8.7 per cent, respectively. Full recovery is likely over the next two fiscals with up to 8.75 per cent growth in 2010-11 and nine per cent the subsequent year.

Click NEXT to read further. . .

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Src: Rediff Money

Market Watch: Stocks to open higher ahead of FnO expiry

Market Watch: Stocks to open higher ahead of F&O expiry



MUMBAI: Stocks are expected to open higher on Thursday as global cues are supportive. However, given the F&O expiry due today, volatility is

Correction offers opportunities Not a good time to start buying How to do stock trading? Decoding demat: Trade secrets

likely to continue.

“The market is taking time to consolidate and create a base before we head for a big rally. There is not much momentum seen in the markets ahead of the Union Budget and F&O expiry. Every dip in the market should be used as a buying opportunity around the support levels and every rise should be utilized as selling opportunity unless Nifty manages to hold above 4,950.

For today, support for Nifty seen at 4,805-4,785 and stiff resistance at 4,885 level, if Nifty holds above 4,885 then next level could be 4,950. Sensex is facing a stiff resistance at 16,330 level which is a crucial level to watch out,” said Nirmal Bang Securities.

US stocks climbed higher Wednesday on hopes of more cheap money after Federal Reserve Chairman Ben Bernanke reassured lawmakers interest rates will remain low.

The Dow Jones Industrial Average gained 91.75 points, or 0.89 per cent, to 10,374.16. The Standard & Poor's 500 Index rose 10.64 points, or 0.97 per cent, to 1,105.24. The Nasdaq Composite Index advanced 22.46 points, or 1.01 per cent, to 2,235.90.

Asian stocks were trading with minor losses Thursday. The Nikkei edged 0.02 per cent lower, Hang Seng shed 0.75 per cent, Straits Times lost 0.08 per cent and Taiex fell 0.09 per cent.

Back home, markets ended on a flat-to-negative note Wednesday, even as the railway budget was presented. Trade was choppy ahead of expiry of February F&O series Thursday and caution ahead of Union Budget on Friday.

Bombay Stock Exchange’s Sensex ended at 16,255.97, down 30.35 points or 0.19 per cent. It touched a low of 16187.44 and touched a high of 16328.44. National Stock Exchange’s Nifty closed at 4858.60, down 11.45 points or 0.24 per cent. It touched a low of 4834.65 and high of 4880.55. BSE Midcap Index was down 0.41 per cent and BSE Smallcap Index moved 0.61 per cent lower.

• Top 5 stock picks of the day
• Mid-term picks of the day

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Heard on the Street



Citi MD quits fin market jungle, heads for the wild

Nikhi Nagle, managing director and head of India equities at Citi, is learnt to have put in his papers, less than a year after taking charge of the broking operations in India. Speculation had been rife ever since Keshav Sanghi was hired as deputy head of India equities, that Mr Nagle may move back to the investment bank’s Hong Kong division.

Rated as one of the best traders in Citi, he was managing the bank’s proprietary book out of Hong Kong, before being made head of India equities in February 2009. Buzz on the Street is that the ace trader will devote time to his wildlife NGO for a while, which aims to increase awareness for India’s forests and tribal population.

Stimulus, but of a different kind

The sudden demand for Rural Electrification Corporation (REC) shares from foreign fund houses on the last day of subscription on Tuesday had tongues wagging. It turns out that the merchant bankers to the issue were subjected to some tongue lashing from senior officials in the divestment ministry for not having done a proper job of hard selling the offering.

The government must have been particularly stung by the fact that lesser-known companies were raising funds with ease, while companies with proven track records like NTPC and REC were being made to look ridiculous. Anyway, the “stimulus” seems to have had an immediate effect, with the lead managers going into an overdrive to drum up interest for the issue.

This is not the first time that merchant bankers are taking it on the chin from the government. In 2004, some prominent investment banks had been hauled by the minister for disinvestment, after it transpired that their broking arms were offloading shares of ONGC, which was in the midst of its follow-on issue.

Oricon Enterprises eyes real estate in Mumbai

Buz is that Oricon Enterprises, a logistics, trading and distribution company, is planning to develop its real estate in Mumbai. According to dealers tracking the stock, the company is planning to construct commercial real estate on its 2-acre plot in Worli, a prime location in Mumbai.

According to punters, the move will increase cash position of the company by about Rs 600 crore. Company officials were not available for comment. Shares of Oricon Enterprises ended 0.4% lower at Rs 348.20 on the BSE.

Contributed by Deeptha Rajkumar, Santosh Nair & Shailesh Menon


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Wealth Creation

Rural Electrification Corporation Ltd

India Auto Sector

India Budget Strategy

Mahindra and Mahindra

Godrej Properties

Railway Budget Highlights - 2010-11

Railway Budget 2010-11 Review

Daily Newsletter - Feb 25 2010

Rei Agro

Src: Economictimes, Deadpresident Blog

Yesterday I saw God Playing Cricket, Sachin 200 in ODI

Nothing is impossible: Sachin Tendulkar's unbeaten 200- ET Cetera ...

Sachin Tendulkar’s unbeaten 200 is a testimony to his fitness and commitment even as he heads for his 37th birthday. He is looking as fit as focused and as formidable as he ever has, and his timing remains untouched by the passing years. Having played till the age of 39, I know that discipline, good, healthy living and focus can add years to one’s career. What I lost in pace and stamina, I gained in control and guile. In Tendulkar’s case, too, he has smartly sorted out his game. He might not have the eye he had in his late 20s, or the speed — those are the peak years of every batsman. However, Tendulkar has compensated for those areas with excellent shot selection and placement. I always maintain that Test cricket and one-day cricket are two different areas, one cannot be connected to the other. However, Tendulkar’s rich vein of form in the longer version seems to have relaxed him and given him the freedom to play in an unburdened manner. Though I did not see the knock, the statistics I have got are staggering. The fact that he got the score in 147 balls itself is a huge achievement and by reaching 200 he bettered one of the best one-day knocks I have seen, by Saeed Anwar. The latter was one of the sweetest timers of the ball, and that knock in Chennai was when he was at the peak of his form. To have bettered that Tendulkar must have really turned on the magic with some scintillating shots. There may be many who will say that the wicket helped strokeplay and that there was nothing in it for the bowlers. But no matter what the wicket is like, to stand through 50 overs and score 200 is a very, very special effort — an achievement that his contemporaries, Ricky Ponting and Brian Lara, would have been proud of. If I had had to pick up a guy as the one to score the first one-day double ton, it would have been Virender Sehwag. He is young, belligerent and in unbelievable touch. However, it was his illustrious senior who pipped him at the post. Tendulkar seems to have rediscovered an exuberance and enjoyment which seems to have taken his game to a different level, and India would be hoping that he maintains this rhythm for some time. This achievement would mean a lot to Tendulkar, even though he has many records to his name because every opener must have had an eye on this record. A double century has only been a theoretical possibility in limited overs so far, so in many ways Tendulkar has achieved something unusual. True, he has many feathers on his cap, but this one is a really special one. An absolutely phenomenal record by a truly phenomenal player.

Tendulkar first to 200 in an ODI



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	Sachin Tendulkar: "Since I was timing the ball well, I could be more aggressive and put pressure on the bowlers" © Associated Press
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Sachin Tendulkar, who broke the record for the highest individual ODI score, overtaking Saeed Anwar and Charles Coventry on his way to the format's first double-hundred, has said his ability to bat the entire 50 overs was a testament to his fitness after having played the game for more than 20 years.

"It feels good that I lasted for 50 overs, a good test of my fitness. I'd like to bat another 50 overs at some stage and see that the fitness level doesn't drop," Tendulkar said after his effort helped India take a unassailable 2-0 lead in the series. "The ball was coming onto the bat and I was striking the ball well. So when everything falls into its place, it feels nice. It was one of the innings where I felt I was moving well. Since I was timing the ball well, I could be more aggressive and put pressure on the bowlers."

Tendulkar, while dedicating his feat to the people of India, credited coach Gary Kirsten for the team's success in both forms of the game after the debacle in the World Cup in the Caribbean. "I've enjoyed various challenges; after the 2007 World Cup things have looked different and I'm enjoying the game," he said. "The credit also goes to Gary [Kirsten], he has really held the team beautifully. It's about togetherness and playing for each other. You see during the practice sessions that Gary himself trains as hard as anyone else, or probably harder than anyone else as he's the one giving us practice all the time."

Tendulkar said he sensed an opportunity to break the record and reach a double-century when he had gone past 175 in the 42nd over. The record eventually came in the 46th over, and the 200 in the 50th. "When I was near 175-180, I thought I could get a 200 as there were quite a few overs left," he said. He added that he would prefer his achievement to be upstaged by an Indian. "I don't play for records, I play for enjoyment and play with lots of passion. That's how cricket started. I didn't start playing cricket to break all the records; it's happened along the way. The dream was to play for India and do my best.

"I don't think any record is unbreakable. Records are made to be broken. I hope that if this record is broke, it's done by an Indian."

This was India's third-highest score in ODIs, and Tendulkar said the 400-mark would not have reached if not for some big hitting by Yusuf Pathan and MS Dhoni. "I thought a target of 340-350 would be a good one, but Yusuf Pathan and MS Dhoni came in and hit the big shots and cleared the ropes consistently and helped us pass 400."

Tendulkar added that India were not relaxing despite having put up a mammoth score, for they were aware South Africa were the only team to have chased down a target in excess of 400. "This was the team that chased 434 against Australia. So we didn't get complacent and told ourselves that we had just got through the half-way stage by scoring 401. And what we did in the second half was extremely important. We were aiming at getting early wickets and putting them out of the game."

Dhoni, who witnessed Tendulkar surpass the record from the other end, said: "I think one of the best innings, you can say. It's always good to be on the other side, watching him score 200 runs. When he is tired and can't play the big shots, he was very clever to use the pace of the bowler and it's very difficult for the bowlers as they don't know where exactly to bowl."

India lost Virender Sehwag early, and Tendulkar was assisted in three sizable stands where runs came at a brisk pace, with Dinesh Karthik, Yusuf and Dhoni. "Once Viru got out, it was important to get some kind of a partnership going. They [Tendulkar and Karthik] went on with their innings, and they set a platform after which we were sure we would get 350-plus which would be a difficult target," Dhoni said. "Yusuf was sent up the order and with the talent he's got, he can be a great asset to the side."

Yusuf scored a quickfire 36 and was particularly lethal during the batting Powerplay, while Dhoni proved destructive at the death, bludgeoning 68 off 35 in a century-stand with Tendulkar in just 53 balls. "I have changed my batting a bit, but the situation demanded that kind [attacking] of innings," Dhoni said. "The ground is a small one, and we were a bit worried about the dew factor. But once they lost 3-4 early wickets, it was difficult for them to get back into the game."

For South Africa and their stand-in captain Jacques Kallis, it was a case of the basics gone wrong. "The toss was quite vital. Our basics were just weren't good enough today. We were outplayed," Kallis said. "We lost wickets at crucial stages, our basics let us down. A fantastic innings by Sachin; he took advantage of some good conditions and he played superbly. We let ourselves down in some areas."

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Src: Cricket Websites and ET