Corporate News Updates 04-Feb

Net profit of Laurel Organics rose 1233.33% to Rs 0.40 crore in the quarter ended December 2010 as againstRs 0.03 crore during the previous quarter ended December 2009. Sales rose 33.80% to Rs 1.90 crore in thequarter ended December 2010 as against Rs 1.42 crore during the previous quarter ended December 2009.

Net profit of Atharv Enterprises rose 250.00% to Rs 0.07 crore in the quarter ended December 2010 as against Rs 0.02 crore during the previous quarter ended December 2009. Sales rose 21.30% to Rs 1.31 crore in thequarter ended December 2010 as against Rs 1.08 crore during the previous quarter ended December 2009.

Net profit of Midas Pharmasec rose 366.67% to Rs 0.14 crore in the quarter ended December 2010 as against Rs 0.03 crore during the previous quarter ended December 2009. There were no sales reported in the quarter ended December 2010 and during the previous quarter ended December 2009.

Net profit of RSWM rose 312.51% to Rs 39.89 crore in the quarter ended December 2010 as against Rs 9.67 crore during the previous quarter ended December 2009. Sales rose 22.96% to Rs 478.89 crore in the quarterended December 2010 as against Rs 389.47 crore during the previous quarter ended December 2009.

Net profit of Diamines & Chemicals rose 746.88% to Rs 2.71 crore in the quarter ended December 2010 as against Rs 0.32 crore during the previous quarter ended December 2009. Sales rose 91.73% to Rs 21.80 crore in the quarter ended December 2010 as against Rs 11.37 crore during the previous quarter ended December 2009.

Jet Airways (India) Ltd, India's top carrier by market share, plans to repay about Rs 1,000 of debt each fiscal and is also looking to prepay some of its high-cost rupee debt.

Jain Irrigation Systems, which makes dehydrated onions, is in advanced talks with two to five entities, including private equity players, to sell 30% stake in its non-banking financial venture

The Hinduja Group is in talks with Italian companies, including Autostrada, for partnerships as it eyes to tap the infrastructure sector in the country.

National Aluminium Company (Nalco), the country's second-largest aluminium producer, may invest about Rs 700 crore for picking up stake in two mines of state-run Hindustan Copper and a detailed framework on strategic alliance is likely next week.
ADR (03-02-2011)

Technical Analysis 04-Feb-11

Our markets are expected to open with a downside gap and are expected to trade sideways. Buying can be seen by noon.

Sensex (18449)

Sensex has resistance at 18520. Support at 18411, 18356, 18300 and 18220.

NIFTY (5526)

Resistance at 5534, 5555 and 5565. Support at 5502, 5488 and 5421.

RECOMMENDATIONS

1) NALCO (421.7)

The support at 415 and 408. Resistance at 425 above it can test 432 and 445 (Buy at declines)

2) TISCO (638.1)

Support at 633 and 625. Resistance at 640 above it can test 645 and 665. (Buy at declines)

3) CIPLA (329.4)

The support is at 325 and 322 if moves down further selloff is likely. Resistance at 333 above it can test 341 and 344.

4) DB REALTY (155.45)

Support at 152 below 148 if moves down it may test 138. Resistance at 158 and 165. (Sell at higher)

5) FINANCIAL TECHNOLOGIES (752.95)

The stock is technically looking positive. Resistance at 765 above it can test 777 and 785. Support at 742 and 735. (Buy at declines)

DERIVATIVE STRATEGIES

BUY L&T FUTURES AROUND 1610 LEVELS

SELL PNB FUTURES AROUND 1094 LEVELS

Corporate News Updates 03-Feb

Net profit of Essar Shipping Ports & Logistics rose 129.94% to Rs 4.07 crore in the quarter ended December 2010 as against Rs 1.77 crore during the previous quarter ended December 2009. Sales declined 11.72% to Rs 252.09 crore in the quarter ended December 2010 as against Rs 285.57 crore during the previous quarter ended December 2009.

Net profit of Vardhman Textiles rose 183.68% to Rs 135.57 crore in the quarter ended December 2010 as against Rs 47.79 crore during the previous quarter ended December 2009. Sales rose 42.50% to Rs 996.38 crore in the quarter ended December 2010 as against Rs 699.21 crore during the previous quarter ended December 2009.

Drug major Wockhardt had net profit of Rs 141.7 crore for the quarter ended December. It had a net loss of Rs 181.2 crore for the corresponding quarter of the previous financial year, due to mark to market losses (writing down securities to current value) and financial turmoil in global markets.

Net profit of SMC Global Securities rose 292.42% to Rs 2.59 crore in the quarter ended December 2010 as against Rs 0.66 crore during the previous quarter ended December 2009. Sales rose 7.26% to Rs 55.52 crore in the quarter ended December 2010 as against Rs 51.76 crore during the previous quarter ended December 2009.

Hindustan Construction Company Ltd. (HCC), India's leading infrastructure construction and development company has been awarded a Rs 345.30 crore worth engineering, procurement and construction (EPC) contract by Sardar Sarovar Narmada Nigam Ltd. (SSNNL), a Government of Gujarat undertaking. The project entails construction of a 57 kms of Kutch branch canal (package II) in Gujarat.

British oil giant BP Plc intends to sell its giant Texas city sprawling 1,200-acre plant, where 15 people died in a 2005 explosion that became symbolic of safety deficiencies in its culture. The company announced plans to sell the two refineries as part of a strategy to cut its US refining capacity in half and focus more on oil and gas exploration.

Australia's Whitehaven Coal expects to receive non-binding offers from Chinese, Indian and Korean parties but several potential suitors have dropped out of the process as bidders raise concern about price.

The government today said India's textiles industry, employing over 90 mn people, is likely to triple and touch $220 bn by 2020.

Technical Analysis 03-Feb-11

Our markets are expected to open with a flat note and are expected to trade sideways. Low level value buying can also be seen in the later part of the day.

Sensex (18090)Sensex has resistance at 18191, 18246, 18300 and 18342. Support at 17989 and 17882.

NIFTY (5432)Resistance at 5460, 5482, 5490 and 5516. Support at 5415, 5397, 5375 and 5360.

RECOMMENDATIONS
1) JAI CORP (169)
The stock is weak and is having support at 164 and 160. Resistance at 174 above it can test 180 (Buy for medium term delivery)

2) GITANJALI GEMS (202.45)
Support at 197 and 192. Resistance at 207 above it can test 215. (Buy for short term)

3) GREAT OFFSHORE (297)
The stock is weak below 305 and is having support only at 286.5. Resistance at 312.

4) VOLTAS (187.55)
Support at 185 below 181. Resistance at 192 above 198. (Buy at declines in small quantities)

5) WOCHARDT LTD (379.45)
Support at 372 and 365. Resistance at 387 and 390. (Buy with a long term perspective)

DERIVATIVE STRATEGIES
BUY HINDALCO FUTURES AROUND 230 LEVELS
BUY STERLITE FUTURES AROUND 164 LEVELS

Corporate News Updates 02-Feb

Net profit of Parshwanath Corporation rose 1400.00% to Rs 0.60 crore in the quarter ended December 2010 as against Rs 0.04 crore during the previous quarter ended December 2009. Sales reported to Rs 0.19 crore in the quarter ended December 2010. There were no sales reported during the previous quarter ended December 2009.

Net profit of Symphony rose 254.30% to Rs 10.31 crore in the quarter ended December 2010 as against Rs 2.91 crore during the previous quarter ended December 2009. Sales rose 108.61% to Rs 53.57 crore in the quarter ended December 2010 as against Rs 25.68 crore during the previous quarter ended December 2009.

Net profit of Hasti Finance rose 2800.00% to Rs 0.29 crore in the quarter ended December 2010 as against Rs 0.01 crore during the previous quarter ended December 2009. Sales rose 966.67% to Rs 0.32 crore in the quarter ended December 2010 as against Rs 0.03 crore during the previous quarter ended December 2009.

Net profit of Chettinad Cement Corporation rose 783.26% to Rs 37.98 crore in the quarter ended December 2010 as against Rs 4.30 crore during the previous quarter ended December 2009. Sales rose 40.64% to Rs 416.33 crore in the quarter ended December 2010 as against Rs 296.02 crore during the previous quarter ended December 2009.

Net profit of Hittco Tools rose 350.00% to Rs 0.18 crore in the quarter ended December 2010 as against Rs 0.04 crore during the previous quarter ended December 2009. Sales rose 66.67% to Rs 2.15 crore in the quarterended December 2010 as against Rs 1.29 crore during the previous quarter ended December 2009.

Hero Honda Motors, India's largest motorcycle maker, said its sales in January rose almost a fifth from a year earlier to 466,524 units.

Construction firm RPP Infra today said it has entered into a joint venture (JV) in West Africa with a Gabonese company, Resurgent Gabon, for a road project worth Rs 100 crore.

In an integrated joint venture with the Russian giant Transtonnelstroy Limited, Afcons Infrastructure Limited, a group company of Shapoorji Pallonji, has successively secured two metro projects in Chennai, amounting to Rs 2,598 crore.

Technical Analysis 02-Feb-11

Markets may open with a firm note and is expected to trade higher in the morning but slight one must expect slight profit booking in the later part of the day.

Sensex (18022)
Sensex has resistance at 18092, 18246, 18270 and 18345. Support at 18000 and 17972.

NIFTY (5417)
Resistance at 5443, 5458, 5480, 5508 and 5520. Support at 5400, 5385, 5365 and 5348.

RECOMMENDATIONS

1) RADICO KHAITAN - (136)Support at 133 and 129. Resistance at 138 above it can test 141 and 149 (Buy at declines)

2) PANACEA BIOTECH (193.2)Support at 190 and 182. Resistance at 196 above it can test 201 and 208. (Buy for short term)

3) RCF (80.2)Support at 78 and 76.1. Resistance at 81.5 above it can test 83 and 87. (Buy for short term)

4) AXIS BANK (1242)Support at 1230 below 1215. Resistance at 1250 above 1255 and 1278. (Buy at declines)

5) SIEMENS (848)Support at 843 and 835. Resistance at 855 if moves up it can test 862. (Buy for delivery)

DERIVATIVE STRATEGIES
SELL BHARTI FUTURES AROUND 325 LEVELS
BUY SAIL FUTURES AROUND 158 LEVELS

Corporate News Updates 01-Feb

• Net profit of Parenteral Drugs India rose 140.00% to Rs 15.00 crore in the quarter ended December 2010 as against Rs 6.25 crore during the previous quarter ended December 2009. Sales rose 58.95% to Rs 127.54 crore in the quarter ended December 2010 as against Rs 80.24 crore during the previous quarter ended December 2009.
• Net profit of Suryalata Spinning Mills rose 286.81% to Rs 5.57 crore in the quarter ended December 2010 as against Rs 1.44 crore during the previous quarter ended December 2009. Sales rose 54.57% to Rs 66.34 crore in the quarter ended December 2010 as against Rs 42.92 crore during the previous quarter ended December 2009.
• Net profit of HSIL rose 176.63% to Rs 27.58 crore in the quarter ended December 2010 as against Rs 9.97 crore during the previous quarter ended December 2009. Sales rose 35.59% to Rs 276.88 crore in the quarter ended December 2010 as against Rs 204.20 crore during the previous quarter ended December 2009.
• Net profit of Nidhi Polyester rose 1300.00% to Rs 0.42 crore in the quarter ended December 2010 as against Rs 0.03 crore during the previous quarter ended December 2009. There were no sales reported in the quarter ended December 2010 and during the previous quarter ended December 2009.
• The US-based GE Energy today said it would supply gas turbines to Sravanthi Energy for its 450 MW power project at Kashipur in Uttarakhand. GE will supply four gas turbines and associated generators for the Sravanthi project, which is expected to be developed in two 225 MW phases.
• Aditya Birla Group has reached an agreement to buy US-based Columbian Chemicals for about $800 million, a business daily reported on Monday, citing unnamed sources with direct knowledge of the deal.
• Global energy demand will jump by 35 per cent by 2030 vis-a-vis 2005 levels amid rapid economic growth and an improvement in living standards in developing nations, an Exxon Mobil Corp forecast shows.
• State-run explorer Oil and Natural Gas Corporation (ONGC) may take part in development of Russia's Trebs and Titov Arctic oilfields together with mid-size Russian group Bashneft.

Technical Analysis 31-Jan-11

Market Trend

Markets may open with a downside note and is expected to trade lower. Minor recovery can be expected in the later part of the day.

Sensex (18395)

Sensex has resistance at 18485 and 18587. Support at 18210, 18108 and 18000.

NIFTY (5512)

Resistance at 5530 and 5545. Support at 5485, 5465, 5444 below 5408 and 5348.

RECOMMENDATIONS

1)    MARUTI (1229) Support at 1219 below it can test 1185 and more. Resistance at 1235 and 1260 (Sell at higher) 2)    TISCO (638) Support at 632, 626 and more. Resistance at 645 above it can test 649. (Sell at higher) 3)    L&T (1607) Support at 1600 and 1590 below it can test 1560 and more. Resistance at 1615 and 1638. 4)    ACC (992) Support at 990 below 975. Resistance at 999 above 1018. (Sell at higher)   5)     ONGC (1133) Support at 1103 and 1085. Resistance at 1139 if moves up it can test 1154 and 1163. (Buy at declines)

DERIVATIVE STRATEGIES

SELL MARUTI FUTURES AROUND 1238 LEVELS SELL BAJAJ AUTO FUTURES AROUND 1270 LEVELS