Sensex Range This Week:15700 - 17300 above which it will touch 17500 & Below
Tgt 15300; Resis at 17300 closing.
Mkt will open gap down around 4910
levels & can further dip toward 4875-4800 levels, but one can buy at dip
for a good bounce next week with SL 4700. Hot sector for Today: Pharma.
BTST/
STBT in Last Trade (Cash /Fut.): IDBI (Buy–
122.25; SL- 120; Tgt1- 126; Tgt2- 127.50; Tgt3- 129 &
135)
Hot in
Street:
Indiacem, Hindzinc, Zeel, Ifci, Ranbaxy Colpal, Drready, Herohonda, Canbnk,
Bajajauto etc.
SCRIPTS (CMP)
ENTRY
LEVEL
TGT1
TGT 2
SL
REMARKS
Hot Today
ORCHID
CHEM(183.4)
Must
Buy At 180-176
187
188.5-190
173
Pharma stocks can show
strength after a dip.
IDFC (166.60)
Sell
C/Fut. At 166-170
163
161.5—160
172
Good stock for day
traders to short in opening
Derivative-
Future (Strategy for today)
ABAN (1321.00)
Must
Sell At Opening
1300
1287-1275
Abv
1360
Max Profits: Unlimited
Profit booking can be
seen up to 1250.
ABAN CA 1500 (46.00)
Sell
When u Sell Fut.
Hedging
Position
Max Loss: Rs. 10000
ASHOKLEY (51.60)
Sell
At 51.50—52
50.50
50—49.50
Abv
52.5
Max Profits: Unlimited
Any time free fall up
to 47—45 level seen.
ASHLEY CA 52.5(1.55)
Buy
When u Sell Fut.
Hedging
Position
Max Loss: Rs 10000
Derivative-
Option
NIFTY
CE 5000 (142.0)
Must
Buy At 110—90
Options Trading
strategy At Very Low Risk - High Gain.
Max Profits: Unlimited
Mkt can bounce next
week, trade with hedge
NIFTY PE 4800 (91.90)
Buy 1
Lot with CE5000
Max Loss: Rs. 5000
Investment
Pick
…………… (…….) (…..)
………………..
……
………
…
……………….
Last Trade (26th
November 2009) Performance in OLC/ Nifty & BTST Calls:Total Profit/Loss: Rs. 18883.00 Approx.
Result
(profit/ loss) may vary from person to person, due to one’s trading habit.
The price calculated on intra-day/ Positional stocks target achieved.
Disclaimer
– India Stock {A unit of India Business Network (IBN) Services, New
Delhi} has taken due care and caution in compilation of data for its members.
Information has been obtained by the company from sources which it considers
reliable. We might not hold any positions in above stocks in Cash/ Derivatives.
However, India Stock does not guarantee the accuracy, adequacy or completeness
of any information and is not responsible for any errors or omissions or for
the results obtained from the use of such information. India Stock especially
states that it has no financial liability whatsoever to any user on account of
the use of information provided on its News Letter or website. You are
responsible for your own investment decisions. India Stock will not be
responsible for any errors or omissions in articles or postings, for hyperlinks
embedded in messages, or for any results obtained from the use of such
information. India Stock will not be liable for any loss or damage caused by a
reader's reliance on information obtained in our area, or in a hyperlinked
area. By: India Stock (A Unit of IBN Services, New Delhi). Write
to:ibnservices@...Visit:http://ibnservices.blogspot.com/ORhttp://www.ibnservices.in/Call: (91) 9899909899
Nifty again showing
strength for 5130-5200, above which quick run toward 5350-5500 can be seen.
Nifty support is at 4900-4750 levels, trade with trend. Hot sector for the
Week: Banking.
Disclaimer
– India Stock {A unit of India Business Network (IBN) Services, New
Delhi} has taken due care and caution in compilation of data for its members.
Information has been obtained by the company from sources which it considers
reliable. We might not hold any positions in above stocks in Cash/ Derivatives.
However, India Stock does not guarantee the accuracy, adequacy or completeness
of any information and is not responsible for any errors or omissions or for
the results obtained from the use of such information. India Stock especially
states that it has no financial liability whatsoever to any user on account of
the use of information provided on its News Letter or website. You are
responsible for your own investment decisions. India Stock will not be
responsible for any errors or omissions in articles or postings, for hyperlinks
embedded in messages, or for any results obtained from the use of such
information. India Stock will not be liable for any loss or damage caused by a
reader's reliance on information obtained in our area, or in a hyperlinked
area. By: India Stock (A Unit of IBN Services, New Delhi). Write
to:ibnservices@...Visit:http://ibnservices.blogspot.com/ORhttp://www.ibnservices.in/Call: (91) 9899909899
ibnservicesdelhi (9:40:06 AM): GOOD MORNING:::::::: DAILY NEWS
LETTER HAS BEEN SENT TO THOSE WHO HAVE SUBSCRIBED FOR THE SAME; PLS CHECK YOUR
E-MAIL FOR THE SAME (ALSO CHECK JUNK/ SPAM FOLDER). Visit: www.ibnservicesdelhis.com
OR http://nse-bse.blogspot.com/
ibnservicesdelhi (9:56:08 AM): BOOK PARTIAL IN STER FUT AT
819---817 LEVELS REVISED SL COST2COST
ibnservicesdelhi (9:57:52 AM): BOOK 50% IN BPCL FUT AT 560---555
LEVELS
ibnservicesdelhi (9:59:00 AM): BOOK MAX IN ABAN FUT OUR
POSITIONAL SELL CALL AT 1230---1220 LEVELS
ibnservicesdelhi (10:00:32 AM): BUY ORCHIDCHEM FUT AT 180 NO SL
AND TGT WILL BE GIVEN LATER
ibnservicesdelhi (10:05:40 AM): PLS HOLD/AVG ORCHIDCHEM FUT AT
176---175 AND REVISE SL WILL BE GVEN LATER
ibnservicesdelhi (10:07:04 AM): BUY NIFTY FUT AT 4875---4870 NO
SL TGT WILL BE GIVEN LATER
ibnservicesdelhi (10:08:38 AM): BOOK 50% IN OUR STBT CALL
STER FUT AT 800----798 LEVELS
ibnservicesdelhi (10:15:40 AM): BOOK PARTIAL IN NIFTY FUT AT
4895---4900 LEVELS REVISED SL COST2COST
ibnservicesdelhi (10:22:54 AM): BUY DLF FUT AT 338 SL BEL 334
TGT 343---346---349---352 BUY CASH ACCORD
ibnservicesdelhi (10:32:12 AM): BUY BANKNIFTY FUT AT 8725 NO SL
TGT WILL BE GIVEN LATER
ibnservicesdelhi (10:44:29 AM): BOOK FULL IN ABAN FUT OUR
POSITIONAL CALL AT 1210---1200 LEVELS
ibnservicesdelhi (10:46:47 AM): BOOK PARTIAL IN ORCHIDCHEM FUT
AT 181---182 LEVELS REVISED SL COST2COST AVG AT 177.50
ibnservicesdelhi (10:54:08 AM): PLS HOLD/AVG IN OUR HOLDING CALL
KFA FUT AT 52 SL 50 CAN BUY MORE REMAIN LONG
ibnservicesdelhi (10:54:52 AM): BOOK 50% IN ORCHIDCHEM FUT AT
184---185 LEVELS
ibnservicesdelhi (10:56:18 AM): BUY SUZLON FUT AT 70 KEEP STRICT
SL AT 68.75 TGT 71.50----72.25---73---74 BUY CASH ACCORD
ibnservicesdelhi (11:22:22 AM): PLS HOLD/AVG IN DLF FUT AT
335---333 KEEP A SL 330
ibnservicesdelhi (11:27:55 AM): PLS EXIT SUZLON FUT SL HIT
ibnservicesdelhi (11:49:27 AM): PLS HOLD/AVG BANKNIFTY FUT AT
8650 KEEP A SL 8600
ibnservicesdelhi (12:11:11 PM): POSITIONAL CALL :::::: BUY
IFCI FUT AT 49.50----49 SL BEL 47.50 CLOSSINGBASIS TGT 52---53---54---55 IN ONE
WEEK
ibnservicesdelhi (12:13:37 PM): POSITIONAL CALL: BUY NIFTY FUT
AT 4827---4810 SL BEL 4750 CLOSSING BASIS TGT 4910---4970---5010---5050 IN ONE
WEEK (CMP 4827)
ibnservicesdelhi (12:15:13 PM): PLS BOOK MAX PROFITS IN OUR
NIFTY FUT POSITIONAL SELL CALL AT 4830---4810 GIVEN ON 5TH NOV
ibnservicesdelhi (1:05:29 PM): PLS EXIT BANKNIFTY FUT SL HIT
ibnservicesdelhi (1:10:31 PM): SELL LICHSGFIN FUT AT 803 (CMP)
RISE UPTO 810 SL ABV 820 TGT 785---777--770 AND BELOW
ibnservicesdelhi (1:13:33 PM): OUR POSITIONAL SELL CALL ABAN FUT
ON FREE FALL AT 1180 NEXT SUPPORT AROUND 1050 TRADE ACCORDING TO MARKET
ibnservicesdelhi (1:17:10 PM): BOOK 75% PROFITS IN OUR STBT CALL
STER FUT AROUND 790---785 (CMP 792 )
ibnservicesdelhi (1:20:05 PM): PLS BUY MORE/AVG IDBI FUT AT
114--113 AND REVISED SL 110 AND REMAIN LONG , MARKET MAY BOUNCE WITH RELIANCE
(CMP 1020)
ibnservicesdelhi (1:34:33 PM): KEEP AN EYE ON BRFL FUT AT 180.5
(CMP) RISKY TRADERS CAN BUY AT 180---179 STRICT SL 175 TGT
184.50--186---188--190 BUY CASH ACCORD
ibnservicesdelhi (1:47:36 PM): BOOK PARTIAL PROFITS IN DLF FUT
AT 342--344 AND REVISED SL COST2COST FOR REST
ibnservicesdelhi (1:50:57 PM): BOOK PARTIAL PROFITS IN NIFTY FUT
AT 4862---4870 AND REVISED SL AT 4800 AND REMAIN LONG
ibnservicesdelhi (1:52:39 PM): BUY BHUSNSTEEL FUT AT 1245---1240
SL BEL 1228 TGT 1265---1275---1285---1295 BUY CASH ACCORD
ibnservicesdelhi (1:54:29 PM): NEWS:::::::: EUROPEAN INDICES
OPEN IN RED ALMOST -1.5% DOWNSIDE
ibnservicesdelhi (1:55:35 PM): BOOK PARTIAL IN BRFL FUT AT
184.50---185 AND REVISED SL COST2COST FOR REST
ibnservicesdelhi (1:58:31 PM): BUY INDIAINFO FUT AT 125---124 SL
BEL 122.50 TGT 127.50--129---130.50--132 BUY CASH ACCORD
ibnservicesdelhi (2:05:22 PM): PLS EXIT LICHSGFIN FUT SL HIT
ibnservicesdelhi (2:07:23 PM): BOOK PARTIAL IN BHUSANSTEEL FUT
AT 1260---1265 LEVELS AND REVISED SL COST2COST
ibnservicesdelhi (2:08:45 PM): BOOK 50% IN NIFTY AT 4890---4900
LEVELS AND REMAIN LONG MONDAY CAN BE GOOD POSITIVE
ibnservicesdelhi (2:12:21 PM): BOOK 50% IN BHUSANSTEEL FUT AT
1284---1290 LEVELS
ibnservicesdelhi (2:21:42 PM): BTST: BUY HDIL FUT AT 301 NO SL
TGT 307---310 AND ABV
ibnservicesdelhi (2:22:37 PM): BOOK 50% IN BRFL FUT AT 188--189
LEVELS
ibnservicesdelhi (2:33:22 PM): BOOK 75% PROFITS IN NIFTY FUT AT
4930----4940 LEVELS REST REMAIN LONG FOR MONDAY
ibnservicesdelhi (2:36:30 PM): BOOK 50% IN DLF FUT AT 347---349
LEVELS
ibnservicesdelhi (2:47:54 PM): BOOK PARTIAL IN IFCI FUT AT 51
TODAY ITSELF AND REVISED SL COST2COST
ibnservicesdelhi (2:49:04 PM): BOOK PARTIAL IN INDIAINFO FUT AT
128--129 LEVELS REVISED SL COST2COST
ibnservicesdelhi (2:50:43 PM): THOSE STILL LONG IN BANKNIFTY FUT
REMAIN LONG FOR TGT 9000+ ON MONDAY
ibnservicesdelhi (2:58:31 PM): BOOK PARTIAL PROFITS IN OUR BTST
CALL HDIL FUT AT 307---309 LEVELS AND REVISED SL COST2COST
ibnservicesdelhi (3:00:52 PM): BTST:::::: BUY ICICIBANK FUT AT
842---840 SL BEL 830 TGT 855---863---870---878 BUY CASH ACCORD
ibnservicesdelhi (3:05:59 PM): BOOK 50% IN INDIAINFO FUT AT 130.50---131
LEVELS REST REMAIN LONG AND HOLD FOR MONDAY
ibnservicesdelhi (3:10:54 PM): BOOK PARTIAL PROFITS IN OUR BTST
CALL ICICIBANK FUT AT 855---859 LEVELS AND REVISED SL COST2COST
ibnservicesdelhi (3:13:13 PM): BOOK 75% IN DLF AT 352---354
LEVELS AND CARRY FOR MONDAY
ibnservicesdelhi (3:18:21 PM): BOOK 75% PROFITS IN BHUSANSTL FUT
AT 1300---1305 LEVELS
ibnservicesdelhi (3:19:11 PM): BOOK 50% PROFITS IN HDIL FUT AT
315---317 LEVELS
ibnservicesdelhi (3:23:24 PM): WE GAVE ALERT FOR RELIANCE AT
1020 NOW ABV 1050 ENJOY PROFITS THOSE BOUGHT
Bharat Electronics Cluster: Apple Green
Recommendation: Hold
Price target: Rs1,850
Current market price: Rs1,714
Put on Hold
Bharat Electronic Ltd (BEL)?s
order book stood higher at Rs12,500 crore at the end of H1FY2010 as
compared to Rs10,386 crore as on March 31, 2009. The current level of
order book is 2.7x its FY2009 revenue and provides strong revenue
visibility at least for the next two years. The order intake also
improved to Rs4,329 crore during H1FY2010 (versus Rs5,424 crore in
FY2009).
We do not see any business
challenges for BEL in the near to medium term and expect a continuous
order flow on a 34% year-on-year increase in the defence capital
outlay in the Union Budget 2009-10. We have revised our price target
to Rs1,850 on the back of the higher valuation multiple of 11x its
FY2011E earnings estimate on account of strong intake in H1FY2010,
which is 80% of the total order intake in FY2009. We continue to
consider our cash per share estimate of Rs482 in our price
target.
BEL?s stock has outperformed
the benchmark Sensex (the stock rose 23% since September 01, 2009
versus 8.4% increase in the Sensex). At the current price, we see
limited upside potential to our price, hence we are downgrading the
stock to Hold and recommend investors to partially book profits. At
the current market price, the stock trades at 14.6x FY2010 and 13.7x
FY2011 earnings estimates. BEL is a cash rich company with cash per
share of Rs330 in FY2009. On an adjusted earnings (adjusted for cash)
basis, the company trades at 11.5x FY2010E and 9.8x FY2011E.
SECTOR UPDATE
Media
Analysis of IRS 2009 Round 2 The Indian Readership Survey 2009 Round 2 (IRS 2009 R2) covering
readership data from July 2008 to June 2009 was released recently. For the
uninitiated, IRS is a biannual exercise by the Mumbai-based Media Research
Users Council that shows the readership of various print media publications
in the country.
Overall, our analysis shows that among listed players IRS 2009 R2 data
points towards strong performance by Jagran Prakashan and readership losses
for HT Media. This assumes significance, as the data is a primary source
for determining advertising revenue flows from advertisers to these
publications.
Sensex Range This Week:15700 - 17300 above which it will touch 17500 & Below
Tgt 15300; Resis at 17300 closing.
Nifty will show volatility due to
F&O expiry today, Mkt expected to close flat to +ve. Nifty has hurdles at
5150-5180 & support at 5050-4910 for one side move. Hot sector for Today:
Infra.
BTST/
STBT in Last Trade (Cash /Fut.): IOC (Buy–
295.50; Booked Partial At 300 Same Day)
Hot in
Street:
Orchidchem, Bpcl, Uniphos, Sintex, Crompgreave, Bajajhind, Gail, Iob,
Pantaloonr etc.
SCRIPTS (CMP)
ENTRY
LEVEL
TGT1
TGT 2
SL
REMARKS
Hot Today
INDIA
CEM (106.70)
Must
Buy At 106.5-104
109
110—112+
102
Cement stock looks
good today for day-traders
IFCI (49.55)
Buy
C/Fut. At 49.5-49
50.50
51—51.50
48
One can go long for
5-10 days for Tgt 53-55+.
Derivative-
Future (Strategy for today)
BIOCON (268.95)
Must
Buy At 268—263
274
277—280+
Bel 260
Max Profits: Unlimited
Keep an eye, good for
day trader 4 gain
…………..
(……..)
…………..
Hedging
Position
Max Loss: Rs. 5400
HDIL (322.50)
Grab
At 321--315
328
331—334+
Bel 310
Max Profits: Rs. 10000
Short covering can be
seen up to 335+.
HDIL PA 320 (4.20)
……………….
Hedging
Position
Max Loss: Rs 3000
Derivative-
Option
SUZLON
CA 70 (1.25)
Must
Buy At Opening
Options
Trading strategy At Very Low Risk - High Gain.
Max Profits: Unlimited
Trade in bulk for
today for good gains.
SUZLON PA 70 (1.00)
Buy 1
Lot with CA 70
Max Loss: Rs. 3000
Investment
Pick
…………… (…….) (…..)
………………..
……
………
…
……………….
Last Trade (25th
November 2009) Performance in OLC/ Nifty & BTST Calls:Total Profit/Loss: Rs. 55118.00 Approx.
Result
(profit/ loss) may vary from person to person, due to one’s trading
habit. The price calculated on intra-day/ Positional stocks target achieved.
Disclaimer
– India Stock {A unit of India Business Network (IBN) Services, New
Delhi} has taken due care and caution in compilation of data for its members.
Information has been obtained by the company from sources which it considers
reliable. We might not hold any positions in above stocks in Cash/ Derivatives.
However, India Stock does not guarantee the accuracy, adequacy or completeness
of any information and is not responsible for any errors or omissions or for
the results obtained from the use of such information. India Stock especially
states that it has no financial liability whatsoever to any user on account of
the use of information provided on its News Letter or website. You are
responsible for your own investment decisions. India Stock will not be
responsible for any errors or omissions in articles or postings, for hyperlinks
embedded in messages, or for any results obtained from the use of such
information. India Stock will not be liable for any loss or damage caused by a
reader's reliance on information obtained in our area, or in a hyperlinked
area. By: India Stock (A Unit of IBN Services, New Delhi). Write
to:ibnservices@...Visit:http://ibnservices.blogspot.com/ORhttp://www.ibnservices.in/Call: (91) 9899909899
ibnservicesdelhi (8:54:37 AM): GOOD MORNING:::::::: DAILY NEWS
LETTER HAS BEEN SENT TO THOSE WHO HAVE SUBSCRIBED FOR THE SAME; PLS CHECK YOUR
E-MAIL FOR THE SAME (ALSO CHECK JUNK/ SPAM FOLDER). Visit: www.ibnservices.com OR http://nse-bse.blogspot.com/
ibnservicesdelhi (9:55:47 AM): BUY KFA FUT AT 54 (CMP) NO SL TGT
LATER
ibnservicesdelhi (9:57:37 AM): BUY CROMPGREAV FUT AT 402.5 (CMP)
SL BEL 396 TGT 410--414--418 AND 422 BUY CASH ACCORD
ibnservicesdelhi (10:13:23 AM): CROMPGREAV FUT SL HIT PLS EXIT
ibnservicesdelhi (10:15:08 AM): CASH CALL:: BUY KESORAM
INDUSTRIES LTD. (502937) AT 341 (CMP) NO SL TGT 347--350--353 AND 356+ BUY 1000
SHARES PER LOT
ibnservicesdelhi (10:19:48 AM): BOOK PARTIAL PROFITS IN BPCL
(POSITIONAL CALL) AT 569--567 ADN REVISE SL COST2COST FOR REST
ibnservicesdelhi (10:25:47 AM): BOOK PARTIAL PROFITS IN DLF FUT
AT 364.5--365 (CMP 364) AND REVISE SL COST2COST AS MKT WILL BE HIGHLY VOLATILE
DUE TO F&O EXPIRY
ibnservicesdelhi (10:27:17 AM): BUY SCI FUT AT 145.40 (CMP)
--DIPS UPTO 145 SL BEL 143.5 TGT 148--149.5--151 AND 152.5 BUY CASH ACCORD
ibnservicesdelhi (10:33:48 AM): BOOK PARTIAL PROFITS IN KFA FUT
AT 55 AND REMAIN LONG REVISE SL COST2COST OUR FINAL TGT 57--60 NEXT WEEK SOME
BIG NEWS EXPECTED
ibnservicesdelhi (10:35:06 AM): KEEP AN EYE ON MPHASIS FUT AT
679 (CMP) --677 SL BEL 670 TGT 690--695--700++ BUY CASH ACCORD
ibnservicesdelhi (10:50:59 AM): PLS HOLD/ AVG MPHASIS IF DIPS TO
670--667 LEVELS AND REVISED SL WILL BE GIVEN LATER
ibnservicesdelhi (12:09:57 PM): PLS EXIT SCI FUT SL HIT
ibnservicesdelhi (12:13:07 PM): SELL NIFTY FUT AT 5090 (CMP) SL
ABV 5120 TGT 5065--5055-5045 AND 5032
ibnservicesdelhi (12:14:04 PM): PLS EXIT CASH CALL KESORAM AT NOW
AROUND 340.50
ibnservicesdelhi (12:16:33 PM): SELL ABAN FUT AT 1357 (CMP) NO
SL TGT 1345--1335--1325 AND 1312 SELL CASH ACCORD
ibnservicesdelhi (12:39:48 PM): BOOK PARTIAL IN ABAN FUT AT
1346---1345 LEVELS REVISED SL COST2COST
ibnservicesdelhi (12:41:11 PM): BOOK PARTIAL IN NIFTY FUT AT
5068---5065 LEVELS AND REVISED SL COST2COST
ibnservicesdelhi (1:18:40 PM): BUY BANKNIFTY FUT AT 9185 (CMP)
DIPS UPTO 9160 SL BEL 9120 TGT LATER
ibnservicesdelhi (1:22:13 PM): RISKY TRADERS BUY TATASTEEL FUT
AT 544 (CMP) NO SL TGT 550-554--559 AND 564 BUY CASH ACCORD
ibnservicesdelhi (1:37:58 PM): OUR DNL CALL IFCI ROCKING THE
DALAL STREET GIVEN BUY TODAY WWW.IBNSERVICES.COM
ibnservicesdelhi (1:39:07 PM): CHANCES OF NIFTY EXPIRY ABV 5100
WATCHOUT NOW NIFTY FUT AT 5075 GOOD SUPPORT AT 5050
ibnservicesdelhi (1:45:48 PM): PLS HOLD/ AVG TATASTEEL FUT AT
537--535 WITH SL AT 532 (MUST) TGT INTACT EXPECTED BOUNCE IN LAST HR
ibnservicesdelhi (1:46:41 PM): PLS EXIT BANKNIFTY FUT AT 9145---9150
LEVELS
ibnservicesdelhi (1:47:37 PM): PLS HOLD/ AVG TATASTEEL FUT AT
537--535 WITH SL AT 532 (MUST) TGT INTACT EXPECTED BOUNCE IN LAST HR
ibnservicesdelhi (1:54:44 PM): NEWS:::::::: EUROPEAN INDICES
OPEN IN RED ALMOST -0.5% DOWNSIDE
ibnservicesdelhi (1:55:13 PM): SEE OUR MAGIC OPTION STRATEGY
SUZLON GIVEN IN DNL AND JUST ENJOY THE GAINS WWW.IBNSERVICES.COM
ibnservicesdelhi (1:59:30 PM): BOOK 50% IN NIFTY FUT AT 5055
ibnservicesdelhi (2:02:32 PM): BOOK 75% PROFITS IN NIFTY FUT AT
5045 NOW AT 5048 CAN DIP UPTO 5035 LEVELS
ibnservicesdelhi (2:04:43 PM): BOOK 50% PROFITS IN ABAN FUT
AROUND 1335 CAN SHOW MORE DOWNSIDE
ibnservicesdelhi (2:05:07 PM): BOOK MAX PROFITS IN NIFTY FUT AT
5032--5025
ibnservicesdelhi (2:10:04 PM): BOOK 75% IN ABAN FUT AT
1325-----1320 LEVELS
ibnservicesdelhi (2:15:54 PM): BTST::: BUY ............. FUT AT
123.5 (DEC FUT) SL BEL 120 TGT 126--127.5--129 AND 130.5++ BUY CASH ACCORD::
PLS ROLLOVER YDAY HOLDING CALLS
ibnservicesdelhi (2:18:04 PM): POSITIONAL CALL:: BUY N HOLD ................
FUT AT 54 (CMP) STRICT SL BEL 52.5 CLOSING BASIS TGT 57--58--59 AND 60 IN 3-4
DAYS BUY CASH ACCORD
ibnservicesdelhi (2:25:18 PM): POSITIONAL CALL:BUY NIFTY DEC FUT
AT 5030 SL BEL 5000 TGT 5090--5120--5150 AND 5180 IN 2-3 DAYS
ibnservicesdelhi (2:29:08 PM): BOOK FULL PROFITS IN INTRA-DAY
NIFTY FUT AROUND 5015--5010
ibnservicesdelhi (2:29:37 PM): TATASTEEL SL HIT PLS EXIT BEL 530
NEXT SUPPORT 525 AND THEN BLOODBATH
ibnservicesdelhi (2:31:54 PM): BOOK MAX PROFITS IN ABN FUT AT
1310--1302 AND BEL 1300 CAN DIP UPTO 1250 SOON
ibnservicesdelhi (2:39:24 PM): ENJOYYYYYYYY FREE FALL IN NIFTY
GIVEN SELL CALL IN THE MORNING
ibnservicesdelhi (2:49:41 PM): STBT:: SELL ................ DEC
FUT AT 845--850 SL ABV 858 CLOSING BASIS TGT 830--823--815 AND 807
ibnservicesdelhi (2:58:38 PM): NIFTY HAS GOOD SUPPORT AT 4980
THEN 4910 AND CHANCES OF BOUNCE BACK AND CLOSING AROUND 5015-5025
ibnservicesdelhi (3:06:49 PM): AS WRITTEN NIFTY BOUNCED WELL
TOWARD 5015 AND HEADING TOWARD 5025 AND CAN EVEN PULL TO 5050 IF CRORRSE 5033
WATCHOUT WWW.IBNSERVICES.COM
ibnservicesdelhi (3:09:35 PM): PLS EXIT MPHASIS FUT AT 672---674
LEVELS
ibnservicesdelhi (3:14:12 PM): ONE CAN HOLD/AVG ....................
AROUND 120-121 (............); ALSO BOOK PARTIAL PROFITS IN ....................
FUT (.................) IF DIPS TO 837-835 AND REVISE SL COST2COST
ibnservicesdelhi (3:15:18 PM): NIFTY SL HIT FOR POSITIONAL CALL EXIT
ibnservicesdelhi (3:24:36 PM): WHAT A GOOD BOUNCE IN SUNPHARMA
WITH GOOD VOLUME
Balrampur Chini Mills Cluster: Emerging Star
Recommendation: Buy
Price target: Rs148
Current market price: Rs135
Q4FY2009 results: First-cut analysis
Results highlights
The Q4FY2009 (year ending
September) results of Balrampur Chini Mills (BCML) are below our
estimates due to lower than expected realisation in the sugar segment
(with the actual realisation at Rs25.7 per kg). The other two segments
of the company?distillery and cogeneration?also did not contribute any
profit on the back of substantially lesser scale of operations due to
non-availability of raw materials during the quarter.
The net sales for the quarter
were down by 8.8% year on year (yoy) due to ~40% lower sales volumes.
We estimate that the sugar segment sales realisation for the quarter
was up by ~50% that led the sugar segment?s profit before interest and
tax (PBIT) margin to improve by 711 basis points yoy to 16.5%.
The overall operating margin
for the company thus expanded by 377 basis points yoy, though the same
was lower than our expectation. This led the operating profit for the
quarter to grow by 11% yoy. Helped by lower interest costs the
adjusted net profit grew by 125% yoy for the quarter.
Consequent to cumulative
impact of tax write-back pertaining to earlier years and employee
stock option plan (ESOP) costs the reported net profit grew by 192.7%
yoy.
For FY2009 (stand-alone) the
net sales grew by 15.5% yoy due to a 22.7% year-on-year (y-o-y)
increase in the sugar segment sales. The three-fold increase in the
profitability and profits of the sugar segment led the overall
operating profit to grow by 40.2% yoy and the adjusted net profit to
rise by 123.8% yoy. On a consolidated basis, BCML?s revenues grew by
16.6% yoy to Rs1,753.2 crore and the adjusted net profit surged by
159% yoy to Rs203.1 crore. Lesser profits compared to stand-alone
operations was due to losses in subsidiaries for the year.
The UP Sugar Mills Association
has reached an agreement with sugarcane farmers on a price of
Rs190-195 per quintal of cane for sugar year 2010. This is lower than
the recent industry expectation of ~Rs210 per quintal and is a
positive development both for the UP Sugar Mills Association and BCML.
This has also resolved the cane-pricing impasse with the farmers and
cane crushing for the season is likely to start immediately.
Notwithstanding the
below-expectation results for Q4FY2009 we see scope for upward
revision in our existing estimates for FY2010 on the likelihood of
higher than earlier expected sugar realisation for the year. We shall
accordingly revise our estimates for the company post interaction with
the management. At the current market price of Rs135 the stock trades at
11.7x and 10.9x earnings per share (EPS) estimates for FY2010 and
FY2011 and enterprise value (EV)/earnings before interest,
depreciation, tax and amortisation (EBIDTA) of 7.2x and 6.8x
respectively. We maintain our Buy recommendation on the stock with a
price target of Rs148.
Orbit Corporation Cluster: Ugly Duckling
Recommendation: Hold
Price target: Rs350
Current market price: Rs312
Put on Hold
As per media reports, Orbit
Corporation is close to ink a deal to raise up to Rs200 crore through
private equity placement in Orbit High City. Orbit High City, a
special purpose vehicle of Orbit Corporation, will develop 400-500
villas for high net worth individuals on 150 acre of land in the
Mumbai Metropolitan Region area (Mandwa Projects) and the company has
already acquired 110 acre of land for the project. The deal is
expected to be signed in less than a month?s time.
As per the management, the
aforesaid equity placement of Orbit High City is likely to dilute
Orbit Corporation?s holding in Orbit High City by ~21% and post the
equity placement the company?s holding in Orbit High City will stand
at ~65%. This values Orbit High City at ~Rs1,000 crore. Consequently,
the value of Orbit Corporation works out to ~Rs650 crore, which is 39%
of Orbit Corporation?s present market capitalisation.
However, from the earnings
estimates point of view the said deal will have a neutral impact, as
the project is likely to generate revenue stream post FY2011.
Furthermore, Orbit
Corporation has recently informed that pursuant to the approval of the
shareholders and further approvals from regulatory authorities, the
directors of the company have approved the allotment of 40,00,000
warrants, convertible into equity shares of Rs10 each at a premium of
Rs179.75 per share, on a preferential basis to the promoters of the
company. Through the allotment of warrants the company will raise
Rs75.9 crore and the proceeds would be used to finance the acquisition
of new re-development properties at Lalbaug and Napean Sea Road.
However, the conversion of
warrants is likely to expand Orbit Corporation?s fully diluted equity
base by 8% to 5.7 crore shares. The conversion of warrants is expected
in one year?s time (by FY2011). Consequently, we expect the earnings
to get diluted by 8%. Hence, the equity dilution is likely to remain
an overhang on the stock in the near term.
The expansion of equity base
through allotment of warrants is likely to marginally reduce the
concern over the company?s high leverage position. Further, robust
growth in pre-sales in Q2FY2010 provides revenue visibility in the
coming quarters. Hence, we are revising our price target to Rs350.
However, due to earnings dilution and limited upside from the current
market price we are downgrading our recommendation from Buy to Hold.
At the current market price the stock is trading at 11.3x FY2011
earnings estimate and 1.7x FY2011 price to book value.
Sensex Range This Week:15700 - 17300 above which it will touch 17500 & Below
Tgt 15300; Resis at 17300 closing.
Mkt will be highly volatile due to
rollover & stock specific movement can be seen. Trade according to trend,
buy at dips & sell on rise or vice-versa. Hot sector for Today: Sugar.
BTST/
STBT in Last Trade (Cash /Fut.): INDIACEM (Buy–
105; SL- 103.50; Tgt1- 107; Tgt2- 108; Tgt3- 110)
Hot in
Street:
Bharatforge, Chamblfert, Blramchini, Bajajhind, Uniphos, Icsa, Tatacomm, Litl
etc.
SCRIPTS (CMP)
ENTRY
LEVEL
TGT1
TGT 2
SL
REMARKS
Hot Today
AMBUJA
CEM (90.10)
Must
Buy At 90—88
92
93—94+
85
Short covering can be
seen in this, Tgt 180++.
RCOM (173.45)
Buy
C/Fut. At 173-170
177
178.5—180
167
Low risk-high gain,
short covering can be seen.
Derivative-
Future (Strategy for today)
TATACHEM (289.05)
Must
Buy At 289--284
294.5
297—300
Bel 280
Max Profits: Unlimited
All fertilizer stocks
are hot for traders.
…………..
(……..)
…………..
Hedging
Position
Max Loss: Rs. 5400
STERLINBIO (99.50)
Grab
At 99—97
102
103—105
Bel 95
Max Profits: Rs. 15000
Keep an eye any time
rise to 110+.
……………(……….)
……………….
Hedging
Position
Max Loss: Rs 5000
Derivative-
Option
TATASTL
CA560 (7.5)
Must
Buy At 7--5
Options
Trading strategy At Very Low Risk - High Gain.
Max Profits: Unlimited
Buy n Hold till F&O
expiry for good gains.
TATASTL PA540 (2.95)
Buy 1
Lot with CA 560
Max Loss: Rs. 5000
Investment
Pick
…………… (…….) (…..)
………………..
……
………
…
……………….
Last Trade (24th
November 2009) Performance in OLC/ Nifty & BTST Calls:Total Profit/Loss: Rs. 64168.00 Approx.
Result
(profit/ loss) may vary from person to person, due to one’s trading
habit. The price calculated on intra-day/ Positional stocks target achieved.
Disclaimer
– India Stock {A unit of India Business Network (IBN) Services, New
Delhi} has taken due care and caution in compilation of data for its members.
Information has been obtained by the company from sources which it considers
reliable. We might not hold any positions in above stocks in Cash/ Derivatives.
However, India Stock does not guarantee the accuracy, adequacy or completeness
of any information and is not responsible for any errors or omissions or for
the results obtained from the use of such information. India Stock especially
states that it has no financial liability whatsoever to any user on account of
the use of information provided on its News Letter or website. You are
responsible for your own investment decisions. India Stock will not be
responsible for any errors or omissions in articles or postings, for hyperlinks
embedded in messages, or for any results obtained from the use of such
information. India Stock will not be liable for any loss or damage caused by a
reader's reliance on information obtained in our area, or in a hyperlinked
area. By: India Stock (A Unit of IBN Services, New Delhi). Write
to:ibnservices@...Visit:http://ibnservices.blogspot.com/ORhttp://www.ibnservices.in/Call: (91) 9899909899
ibnservicesdelhi (9:27:02 AM): GOOD MORNING:::::::: DAILY NEWS
LETTER HAS BEEN SENT TO THOSE WHO HAVE SUBSCRIBED FOR THE SAME; PLS CHECK YOUR
E-MAIL FOR THE SAME (ALSO CHECK JUNK/ SPAM FOLDER). Visit: www.ibnservices.com
OR http://nse-bse.blogspot.com/
ibnservicesdelhi (9:56:00 AM): BUY TATACHEM FUT AT 290.30 (CMP)
NO SL TGT LATER
ibnservicesdelhi (9:56:52 AM): BUY …………….
FUT AT 176.80 (CMP) NO SL TGT LATER
ibnservicesdelhi (10:02:29 AM): BOOK FULL PROFITS IN OUR SESAGOA
CA360 AT 20--23 EVEN CAN TOUCH 27-30 TILL EXP:: ENJOY HUGE PROFITS
ibnservicesdelhi (10:05:10 AM): BUY BANKNIFTY FUT AT 9235 SL BEL
9200 TGT 9275---9295--9320 AND 9350
ibnservicesdelhi (10:16:56 AM): THOSE HOLDING ALBK(ALLAHABAD
BANK) FUT BOOK 50% AT 142---143 LEVELS
ibnservicesdelhi (10:24:37 AM): SELL NIFTY FUT AT 5111 SL ABV
5135 TGT 5085--5075--5065 AND 5055
ibnservicesdelhi (10:42:09 AM): KEEP AN EYE ON ABAN FUT RISKY
TRADERS CAN BUY AT 1345 SL BEL 1332 TGT 1360--1370 AND 1380+ BUY CASH ACCORD
ibnservicesdelhi (10:55:13 AM): BOOK PARTIAL PROFITS IN
BANKNIFTY FUT AT 9273--9280 AND REVISE SL COST2COST:: BOOK 50% ON RISE ABV
9300-9310 LEVELS
ibnservicesdelhi (10:57:49 AM): BOOK PARTIAL PROFITS IN INDIACEM
(BTST) AT 106.5--107 AND REVISE SL COST2COST AT 105
ibnservicesdelhi (11:12:37 AM): BOOK 50% IN BANKNIFTY FUT AT
9300---9310LEVELS
ibnservicesdelhi (11:18:54 AM): PLS KEEP SL 5131 IN NIFTY AND IF
CROSSES THEN EXIT SHORT&
BUY AT 5130-5125 SL 5098 TGT 5058--5169 AND 5179
ibnservicesdelhi (12:03:22 PM): BOOK PARTIAL PROFITS IN ABAN FUT
AT 1373--1375 AND REVISE SL COST2COST FOR MORE UPSIDE
ibnservicesdelhi (12:05:07 PM): KEEP AN EYE ON IDBI FUT AT
126.5 (CMP) RISKY TRADERS CAN BUY AT 126.5 STRICT SL BEL 125 TGT 129--130.25--131.5
AND 133 BUY CASH ACCORD
ibnservicesdelhi (12:38:39 PM): PLS EXIT TATACHEM FUT AT
287.50---288 HIGH RISKY TRADERS CAN HOLD WITH SL 285
ibnservicesdelhi (12:53:03 PM): PLS HOLD/AVG ………………
FUT AT 174----173 LEVELS SL WILL BE REVISED LATER
ibnservicesdelhi (1:21:13 PM): BOOK 50% IN OUR BTST CALL
INDIACEM FUT AT 108---108.50 LEVELS
ibnservicesdelhi (1:50:29 PM): NEWS:::::::: EUROPEAN INDICES
OPEN IN RED ALMOST + 0.5% UPSIDE
ibnservicesdelhi (2:10:51 PM): PLS HOLD ………….
FUT WE WILL TELL WHEN TO EXIT
ibnservicesdelhi (2:19:10 PM): PLS HOLD /AVG ……………..
FUT AT 125--124 AND CAN CARRY FOR TROW, STOCK CAN RISE UPTO 130-132 IN 1-2 DAYS
REVISE SL AT 122 CLOSING BASIS
ibnservicesdelhi (2:24:56 PM): PLS HOLD /AVG NIFTY FUT AT
5107--5102 REVISE SL AT 5080 (MUST) TGT INTACT
ibnservicesdelhi (2:33:30 PM): BTST::::: BUY IOC FUT AT
295.50---294 LEVELS NO SL TGT 299.50---302---305---308 BUY CASH ACCORD
ibnservicesdelhi (2:41:49 PM): BTST::::::: BUY …………
FUT AT 361.50---360 LEVELS SL BEL 356 CLOSSING BASIS TGT 367---370---373---377
BUY CASH ACCORD
ibnservicesdelhi (2:49:09 PM): BOOK 75% PROFITS IN BANKNIFTY
(INTRA-DAY) CALL AND POSITIONAL CALL GIVEN YDAY AT 9335--9350 LEVELS CAN DO
9400+
ibnservicesdelhi (2:59:56 PM): BOOK PARTIAL PROFITS IN OUR BTST
IOC FUT AT 299---300 TODAY ITESELF AND REVISE SL COST2COST FOR REST
ibnservicesdelhi (2:50:29 PM): BOOK 50% IN OUR BTST SBIN FUT AT
2347---2355 LEVELS REVISED SL COST2COST
ibnservicesdelhi (3:03:21 PM): HOPE ALL ENJOYING ORCHIDCHEM FUT
WE WROTE YESTERDAY OUR FINAL TGT 190---200 TILL EXPIRY TODAY IT HIT 190+ ENJOY
THOSE HOLDING
ibnservicesdelhi (3:10:20 PM): PLS HOLD/CARRY ……………..
FUT FOR TOMORROW KEEP A SL 170
ibnservicesdelhi (3:15:32 PM): PLS BOOK/EXIT NIFTY FUT AT
5110---5115 (OUR AVG COST 5113.50) ONE CAN HOLD FOR TOMORROW TOO WITH SL 5080
ibnservicesdelhi (3:18:28 PM): POSITIONAL CALL : SELL AND HOLD ………….
FUT AT 577(CMP) 580 SL 585 CLOSSING BASIS TGT 560---555---550 AND 544
Max India Cluster: Emerging Star
Recommendation: Buy
Price target: Rs295
Current market price: Rs212
Value Maximiser
Key points
A unique investment
proposition: Max India is a unique investment
opportunity providing direct exposure to two sunrise industries of
insurance and healthcare services. Max New York Life (MNYL), its life
insurance subsidiary, is among the leading private sector players, has
gained the critical mass and enjoy some of the best operating
parameters.
Insurance?the key value
contributor:
MNYL, a 74:26 JV between Max India and New York Life, is the seventh
largest insurance player with a market share of 5.2% and an extremely
healthy NBAP margin of 21% (in FY2009). It is differentiated from its
peers by its focus on traditional products, relatively low dependence
on ULIPs, a highly productive agency network and high persistency
rates. In our SOTP valuation of Max India, MNYL contributes Rs263 a
share based on the appraisal value method.
Healthcare?aggressive
expansion plans: Max Healthcare has presence across the
healthcare delivery value chain, addressing the primary, secondary and
tertiary care needs of patients. The company plans to increase its
capacity to around 1,800 beds by 2011. We value the healthcare
business of Max India based on the EV/EBITDA method and the business
contributes Rs20 a share to our SOTP valuation.
Other business?aids cash
flow: Max
India also has a biaxially oriented polypropylene (BOPP) facility
running at full capacity of 29,000TPA. It is in the process of
expanding its production capacity for BOPP films to 49,000TPA by the
end of the next financial year. The specialty product business
contributes Rs12 a share to our SOTP valuation, based on the
price-to-sales ratio valuation method.
Valuation?price target of
Rs295:
Apart from the above mentioned business, the company is looking at
investing and building other businesses, including clinical research
and general insurance, that would add to its valuations in the coming
years. Moreover, the possible hike in the foreign direct investment
(FDI) limit for the insurance companies and the expected public
offerings by the private insurance players are two likely triggers for
the re-rating of the stock. We initiate coverage on Max India with a
Buy rating and a price target of Rs295.
STOCK UPDATE
ITC Cluster: Apple Green
Recommendation: Hold
Price target: Rs271
Current market price: Rs264
Price hike in premium brands unlikely to affect volumes
Key points
Price increases in the
premium portfolio: ITC has increased the prices
of premium brands in its cigarette portfolio. It has raised the price
of its brands Classic, India Kings and Benson & Hedges by 4.3% to
Rs98 for a pack of 20 cigarettes, by 10.0% to Rs110 for a pack of 20
cigarettes and by 5.0% to Rs105 for a pack of 20 cigarettes
respectively. These brands fall under the ?Kings? and ?Longs?
categories of ITC?s cigarette portfolio and together contribute ~15%
to ITC?s cigarette sales volume.
No impact on cigarette sales
volume growth: We do not expect these price increases to
have any material impact on ITC?s cigarette sales volume, as the
company has strong pricing power (especially in the premium segment)
and the price increases effected by it in the past had been easily
accepted by the market. Even in the second quarter of FY2010 the
company had implemented price hikes and despite that its cigarette
sales volume had grown by 7% year on year (yoy) in the quarter, ahead
of the industry growth of 5% yoy. We expect the strong volume growth momentum
to continue in the coming quarters. We have factored in a cigarette
sales volume growth of ~6% in our FY2010 estimates.
Outlook and valuations: With
the sustenance of the strong volume growth in the cigarette business,
lower losses in the non-cigarette fast moving consumer goods (FMCG)
business and high profitability in the agribusiness, we expect ITC to
post a strong bottom-line growth of 21.6% yoy in FY2010. Thus, we like
ITC ahead of Hindustan Unilever in the large-cap FMCG space. However,
due to a limited upside from the current levels, we maintain our Hold
recommendation and price target of Rs271 on the stock. At the current
market price the stock trades at 25.1x its FY2010E earnings per share
(EPS) of Rs10.5 and 21.4x its FY2011E EPS of Rs12.3.
ibnservicesdelhi (8:20:11 AM): GOOD MORNING:::::::: DAILY
NEWS LETTER HAS BEEN SENT TO THOSE WHO HAVE SUBSCRIBED FOR IT; PLS CHECK YOUR
MAIL FOR THE SAME. Visit: www.ibnservices.com OR http://nse-bse.blogspot.com/
ibnservicesdelhi (9:55:52 AM): BUY STERLINGBIO FUT AT 99 (CMP)
--DIPS UPTO 98 NO SL TGT LATER
ibnservicesdelhi (9:57:02 AM): BUY LT FUT AT 1630 (CMP) NO
SL TGT 1655--1670--1685 AND 1700 BUY CASH ACCORD
ibnservicesdelhi (10:04:06 AM): BUY BANKNIFTY 9250 (CMP) NO SL
TGT 9290--9310--9330 AND 9350
ibnservicesdelhi (10:07:36 AM): BUY NIFTY FUT AROUND 5085--5080
STRICT SL BEL 5050 TGTLATER
ibnservicesdelhi (10:14:03 AM): OUR BULLISH STOCK ORCHID FUT AT
183 STEAM LEFT OUR FINAL TGT 190+ THIS WEEK THOSE HOLDING LONG
ibnservicesdelhi (10:23:28 AM): BOOK PARTIAL PROFITS IN STERLING
BIO FUT AT 101 AND REVISE SL COST2COST NOW AT 100.65
ibnservicesdelhi (10:30:02 AM): BUY BIOCON FUT AT 277 (CMP) SL
BEL 274 TGT 282--284.5--287 AND 289.5 BUY CASH ACCORD
ibnservicesdelhi (10:30:50 AM): BOOK PARTIAL PROFITS IN SESAGOA
CALL OPTION GIVEN YDAY NOW AT 10 BOOK PARTIAL AND REST HOLDW TIH SL COST2COST
AT 8
ibnservicesdelhi (10:36:53 AM): BOOK 50% IN SESAGOA CA 360
ARROUND 12
ibnservicesdelhi (10:47:05 AM): BOOK 75% IN SESAGOA CA 360 FUT
AT 13.50---14 LEVELS
ibnservicesdelhi (10:50:28 AM): KEEP AN EYE ON EDUCOMP FUT AT
770 RISKY CAN BUY FOR TGT 783--790--796 AND 805 BUY CASH ACCORD SL 760
ibnservicesdelhi (10:51:11 AM): BOOK 50% PROFITS IN STERLINGBIO
FUT AT 102--102.5 AND REMAIN LONG CAN DO 104--105 TODAY REVISE SL COST2COST
ibnservicesdelhi (10:55:18 AM): BOOK 50% PROFITS IN OUR
BTST KFA FUT AT 54.90--55 AND CAN DO 56+ REMAIN LONG WITH SL COST2COST
ibnservicesdelhi (11:00:58 AM): BOOK PARTIAL IN BIOCON FUT AT
281.50----282 LEVELS REVISED SL COST2COST
ibnservicesdelhi (11:10:45 AM): BUY IOC (INDIAN OIL CORP) FUT AT
290.75 (CMP) --290 SL BEL 287 TGT 296--298--300 AND 303 BUY CASH ACCORD
ibnservicesdelhi (11:36:50 AM): POSITIONAL CALL:: BUY UCOBANK
FUT AT 60.30 --60 SL BEL 59 CLOSING BASIS TGT 63--64--65 AND 66 TILL F&O
EXP BUY CASH ACCORD
ibnservicesdelhi (11:46:46 AM): PLS HOLD/ AVG BANKNIFTY FUT
AROUND 9210--9200 AND KEEP SL AT 9170 (NOW AT 9220)
ibnservicesdelhi (11:53:43 AM): CASH CALL: BUY ADOR WELDING LTD
(517041) AT 156.50--156 TGT 160--161.5--163 AND 165 BUY 1000-2000 SHARES SL
154.5 MUST
ibnservicesdelhi (11:57:21 AM): BOOK PARTIAL PROFITS IN OUR CASH
CALL ADORWELDING AT 159.75--160 AND REST HOLD WITH SL COST2COST FOR TGT UPTO
163-165 TODAY
ibnservicesdelhi (12:10:19 PM): BOOK 50% PROFITS IN OUR CASH
CALL ADOR WELDING AT 161.5--162 AND REMAIN LONG FOR MORE UPSIDE UPTO 165
ibnservicesdelhi (12:15:30 PM): BOOK 50% PROFITS IN ABAN FUT
YDAY SELL CALL AT 1344--1340 AND REMAIN SHORT FOR TGT 1300 AND BELOW SOON
ibnservicesdelhi (12:24:06 PM): LT GIVING BREAKOUT AT 1638
WATCHOUT
ibnservicesdelhi (12:27:58 PM): PLS HOLD/AVG NIFTY FUT AT
5052--5045 AND REVISE SL AT 5030 (STRICT) FOR A BOUNCE BACK
ibnservicesdelhi (12:38:37 PM): BANKNIFTY FUT SL HIT PLS EXITONLY HIGH RISKY TRADERS HOLD WITH SL
9120
ibnservicesdelhi (12:42:54 PM): POSITIONAL CALL::: BUY
BANKNIFTY FUT AT 9150--9120 SL BEL 9000 CLOSING BASIS TGT 9320--9360--9400 AND
9450 TILL EXPIRY
ibnservicesdelhi (12:48:25 PM): DAY-TRADERS:: KEEP AN EYE
ON CENTURY FUT AT 477 (CMP) CAN BUY AT 476.5 SL BEL 472 TGT 485--489--494 AND
499 BUY CASH ACCORD
ibnservicesdelhi (1:45:52 PM): BOOK PARTIAL PROFITS IN LT FUT AT
1650--1655 AND REVISE SL COST2COST FOR MORE UPSIDE
ibnservicesdelhi (1:45:57 PM): BOOK PARTIAL PROFITS IN LT FUT AT
1650--1655 AND REVISE SL COST2COST FOR MORE UPSIDE
ibnservicesdelhi (1:46:53 PM): NEWS:::::::: EUROPEAN INDICES
OPEN IN RED ALMOST -0.5% DOWNSIDE
ibnservicesdelhi (2:01:51 PM): BOOK PARTIAL IN NIFTY FUT AT
5090--5095 LEVELS REVISED SL COST2COST
ibnservicesdelhi (2:03:46 PM): BOOK PARTIAL PROFITS IN BANKNIFTY
POSITIONAL S WELL AS INTRADAY AT 9250---9260 LEVELS REVISED SL AT 9170
ibnservicesdelhi (2:28:54 PM): BOOK MAX PROFIT IN SESAGOA CA360
AT 15.50--16 NOW AT 15, SEE DOUBLE UR MONEY IN JUST LESS THAN 24 HR
ibnservicesdelhi (2:32:00 PM): BTST::: BUY …………………..
FUT AT 105 (CMP) SL BEL 103.5 CLOSING BASIS TGT 107--108--109 AND 110 BUY CASH
ACCORD
ibnservicesdelhi (2:33:59 PM): BOOK 5O% IN NIFTY FUT AT
5105----5110 LEVELS NOW AT 5104
ibnservicesdelhi (2:35:26 PM): BOOK 50% PROFITS IN
BANKNIFTY ON RISE TOWARD 9290--9300 LEVELS IN INTRA-DAY & POSITIONAL CALL
REST REMAIN LONG FOR MORE UPSIDE
ibnservicesdelhi (2:48:31 PM): BTST:: BUY …………
FUT AT 2313 (CMP) SL BEL 2290 TGT 2350--2370--2385 AND 2400 BUY CASH ACCORD
ibnservicesdelhi (2:55:28 PM): EXPIRY SPECIAL: (OPTION STRATEGY)
BUY …............. AT 0.50 (CMP) NO SL TGT UNLIMITED TILL F&O EXP
THIS WEEK
ibnservicesdelhi (3:03:32 PM): ENJOY FULL PROFITS IN SESAGOA
CALL 360 AT 17--19 GIVEN YDAY AT 8
ibnservicesdelhi (3:04:46 PM): BOOK /EXIT EDUCOMP FUT AT
772--775; CENTURYTEX FUT AT 480--483; IOC FUT AT 290-291
ibnservicesdelhi (3:16:22 PM): UCOBANK FUT SL HIT PLS EXIT
Sensex Range This Week:15700 - 17300 above which it will touch 17500 & Below
Tgt 15300; Resis at 17300 closing.
Nifty will face hurdle at 5150-5180
levels, where selling can emerge. One can short at rise to gain till F&O
exp, or buy put options with low risk & high gain. Hot sector for Today:
Infra.
BTST/
STBT in Last Trade (Cash /Fut.): KFA (Buy–
53.20; Booked Partial at 54.40 Same Day)
Hot in
Street:
Auropharma, Hindzinc, Divislab, Sterlinbio, Hcltech, Kfa, Patni, Cipla, Gail,
Dabur etc.
SCRIPTS (CMP)
ENTRY
LEVEL
TGT1
TGT 2
SL
REMARKS
Hot Today
APTECH
(172.90)
Must
Buy At 172—169
176
178—180+
166
Short covering can be
seen in this, Tgt 180++.
ICICI BANK (916.86)
Buy
C/Fut. At Opening
932
941—950
890
Banking stocks will be
on rise for whole week.
Derivative-
Future (Strategy for today)
LT (1632.00)
Must
Buy At 1630-1615
1660
1675-1690
Bel
1600
Max Profits: Unlimited
Stock can rise up to
1675-1700 till exp.
LT PA 1620 (11.15)
Buy When
u Buy Fut.
Hedging
Position
Max Loss: Rs. 3000
PIRHEALTH (398.50)
Buy
At 398—393
405
409—414
Bel 388
Max Profits: Rs. 22500
Silent stock among
pharma sector,watch
……………(……….)
Buy
When u Sell Fut.
Hedging
Position
Max Loss: Rs 7500
Derivative-
Option
SESAGOA
CA360 (7.7)
Must
Buy At 7.5--5
Options
Trading strategy At Very Low Risk - High Gain.
Max Profits: Unlimited
Buy n Hold till
F&O expiry for good gains.
SESAGOA PA350 (4.0)
Buy 1
Lot with CA 360
Max Loss: Rs. 15000
Investment
Pick
…………… (…….) (…..)
………………..
……
………
…
……………….
Last Trade (23rd
November 2009) Performance in OLC/ Nifty & BTST Calls:Total Profit/Loss: Rs. 90596.00 Approx.
Result (profit/
loss) may vary from person to person, due to one’s trading habit. The
price calculated on intra-day/ Positional stocks target achieved.
Sensex Range This Week:15700 - 17300 above which it will touch 17500 & Below
Tgt 15300; Resis at 17300 closing.
Mkt will show volatility ahead of
F&O expiry this week. Sell on rise & Buy on dips for good intra-day
gain. Stock specific move can be seen during day trade. Hot sector for Today: Bank.
BTST/
STBT in Last Trade (Cash /Fut.): IFCI (Buy–
50; Booked Partial at 50.75 Same Day)
Hot in
Street:
Denabank, Ucobank, Jphyro, Vijayabank, Iob, Canbank, Orientalbank, Acc, Suntv,
Mll etc.
SCRIPTS (CMP)
ENTRY
LEVEL
TGT1
TGT 2
SL
REMARKS
Hot Today
IDBI
(127.75)
Must
Buy At 127—124
130
131.5—133
122
This is the stock of
the day for Tgt 132-135+.
SYNDICATE BK (95.9)
Buy
C/Fut. At 96--93
98
99—100+
91.5
All mid-cap banking
stocks are looking hot.
Derivative-
Future (Strategy for today)
ABAN (1373.05)
Sell
At 1380—1400
1350
1335-1320
Abv
1419
Max Profits: Unlimited
Profit booking can be
seen at higher.
……….
(……)
………
Hedging
Position
Max Loss: Rs. 7600
BRFL (197.95)
Grab
At 197—193
202
+204—207|
Bel 190
Max Profits: Rs. 11500
Keep eye on textile
stocks for good gain.
……………(……….)
Buy
When u Sell Fut.
Hedging
Position
Max Loss: Rs 3450
Derivative-
Option
DLF
CA 380 (7.60)
Must
Buy At 7--5
Options
Trading strategy At Very Low Risk - High Gain.
Max Profits: Unlimited
Buy n Hold till
F&O expiry for good gains.
DLF PA 370 (7.45)
Buy 1
Lot with CA 380
Max Loss: Rs. 6000
Investment
Pick
…………… (…….) (…..)
………………..
……
………
…
……………….
Last Trade (20th
November 2009) Performance in OLC/ Nifty & BTST Calls:Total Profit/Loss: Rs. 110595.00 Approx.
Result
(profit/ loss) may vary from person to person, due to one’s trading
habit. The price calculated on intra-day/ Positional stocks target achieved.
ibnservicesdelhi (8:51:22 AM): GOOD MORNING:::::::: DAILY &
WEEKLY NEWS LETTER HAS BEEN SENT TO THOSE WHO HAVE SUBSCRIBED FOR IT; PLS CHECK
YOUR MAIL FOR THE SAME. Visit: www.ibnservices.com OR
http://nse-bse.blogspot.com/
ibnservicesdelhi (9:56:04 AM): BUY ALBK FUT AT 141 (CMP) NO SL
TGT LATER
ibnservicesdelhi (9:57:31 AM): BUY GTLINFRA FUT AT 32.70 (CMP)
NO SL TGT LATER
ibnservicesdelhi (9:59:47 AM): SELL NIFTY FUT AT 5089 (CMP) SL
ABV 5125 TGT 5060--5050--5040 AND 5030
ibnservicesdelhi (10:01:59 AM): BOOK MAX PROFITS IN TATASTEEL
FUT AT 557--560 AND HURDLE AT 565
ibnservicesdelhi (10:05:43 AM): POSITIONAL CALL:: SELL ABAN FUT
AT 1375--1400 SL ABV 1415 CLOSING BASIS TGT 1350--1340--1330 AND 1320 SELL CASH
ACCORD TILL EXPIRY CAN TOUCH 1275-1250
ibnservicesdelhi (10:06:51 AM): BOOK PARTIAL PROFITS IN
GMRINFRA (BTST) AT 69.80--70 (CMP 69.8) AND REVISE SL COST2COST
ibnservicesdelhi (10:11:48 AM): KEEP AN EYE ON ORCHID FUT
(CMP 173.80) RISKY CAN BUY AT CMP WITH SL 170 TGT 177--178.5--180++ BUY CASH
ACCORD HIGHLY OVERSOLD
ibnservicesdelhi (10:16:11 AM): POSITIONAL CALL:: SELL SESAGOA
FUT AT 362--367 SL ABV 373 CLOSING BASIS TGT 350--345--340 AND 335 FOR 4-7
TRADING SESSION
ibnservicesdelhi (10:17:50 AM): KEEP AN EYE SUGAR STOCKS CAN
SHOW FREE FALL TODAY RENUKA NOW AT 228 AND WATCHOUT FOR FREE FALL
ibnservicesdelhi (10:42:35 AM): BOOK PARTIAL IN GTLINFRA FUT AT
33.30--33.50 LEVLES REVISE SL COST2COST
ibnservicesdelhi (10:51:30 AM): BUY DLF FUT AT 377.5 (CMP) NO SL
TGT 384--387--390 AND 394 BUY CASH ACCORD
ibnservicesdelhi (10:52:51 AM): BOOK PARTIAL PROFITS IN ORCHID
FUT AT 177 AND REVISE SL COST2COST
ibnservicesdelhi (11:03:09 AM): BOOK 50% IN ORCHIDCHEM FUT AT
178.50--179 LEVLES
ibnservicesdelhi (11:17:34 AM): BOOK 50% IN GTLINFRA FUT AT
33.80--34 LEVLES
ibnservicesdelhi (11:24:58 AM): PLS HOLD/ AVG NIFTY FUT AT
5115--5125 AND REVISED SL WILL BE GIVEN LATER
ibnservicesdelhi (12:27:48 PM): AS ALERTED AN GAVE RENUKA FOR
FREE FALL AT 228 NOW AT 222.55 MORE DOWNSIDE SEEN THOSE HAVING SHORT REMAIN
SAME TGT BEL 220
ibnservicesdelhi (12:42:35 PM): BOOK PARTIAL PROFITS IN
SESAGOA FUT AT 355 AND REST REVISE SL COST2COST CLOSING BASIS
ibnservicesdelhi (12:49:23 PM): PLS HOLD/AVG ALBK (ALLAHABAD
BANK) FUT AT 139--138 AND REMAIN LONG THIS WEEK TGT 147--150 TODAY CAN JUMP
ibnservicesdelhi (1:21:26 PM): BOOK 50% IN SESAGOA FUT AT
353.50--352.50 LEVLES
ibnservicesdelhi (1:24:59 PM): PLS HOLD AVG DLF FUT AT 373--372
LEVLES REVISE SL 369
ibnservicesdelhi (1:48:50 PM): NEWS::: EUROPEAN INDICES ALMOST
IN GREEN +1% UPSIDE
ibnservicesdelhi (2:07:08 PM): BTST::: KFA FUT AT 53.20 (CMP)
--52.5 NO SL TGT 54.40--55--55.50 AND 56 BUY CASH ACCORD
ibnservicesdelhi (2:22:52 PM): BUY AMBUJACEM FUT AT 88 SL BEL
86.80 TGT 89.5--90.20--91 AND 92 BUY CASH ACCORD
ibnservicesdelhi (2:56:19 PM): EXPIRY SPECIAL ::: BUY …………………….
AT 9--8 LEVLES SL 5 TGT 12-14--16--18
ibnservicesdelhi (3:05:33 PM): BOOK PARTIAL IN KFA FUT AT
54.20--54.40 LEVLES REVISE SL COST2COST
ibnservicesdelhi (3:13:06 PM): BOOK PARTIAL IN AMBHUJA CEM FUT
AT 89---89.25 LEVLES REVISE SL COST2COST
ibnservicesdelhi (3:15:28 PM): ONE CAN BOOK PARTIAL IN ALLAHABAD
BANK FUT AT140.50--141 LEVLES AND HOLD FOR TOMM TGT 145+ REVISE SL COST2COST
139.50 AVG
ibnservicesdelhi (3:16:25 PM): BOOK PARTIAL IN ABAN FUT AT
1355---1350 LEVLES REVISE SL COST2COST
ibnservicesdelhi (3:18:04 PM): BOOK FULL IN TATA STEEL FUT AT
570--574 LEVLES
ibnservicesdelhi (3:21:46 PM): PLS EXIT NIFTY BUY CALL COST2COST
AT 5105--5100 LEVLES OUR AVG COST IS 5102
ibnservicesdelhi (3:23:19 PM): PLS EXIT DLF FUT AT 372--374 LEVLES
OUR AVG COST IS 375
Sintex Industries Cluster: Apple Green
Recommendation: Buy
Price target: Rs288
Current market price: Rs230
Annual report review
Key points
Sintex Industries (Sintex),
in its FY2009 annual report, has highlighted its strategy to focus on
its high-growth businesses like monolithic construction, prefabricated
structures (prefabs) and custom moulding. The company?s strong order
book especially the Rs1,500-crore orders for the monolithic business
for the next 18 months provides significant visibility for both
revenue and growth. Further, the company has also ventured into new
businesses, namely warehousing infrastructure, end-to-end
telecommunications (telecom) network solutions, rural electrification
and wastewater solutions.
Sintex invested Rs451 crore
in FY2009 for expansion of capacities across its business divisions.
With some of the expansion plans already generating returns, the
company has stated that the high-growth businesses, monolithic
construction, prefabs and custom moulding, will be expanded in a
phased manner till FY2011. We believe that the extended gestation
period would affect the returns temporarily but in the long term
Sintex would be a winner, given that (1) it is a pioneer in monolithic
construction and prefabricated structure businesses in the country;
(2) it has strong order book and presence in almost all states of the
country; and (3) it has unutilised funds to the tune of Rs877 crore to
strengthen its acquisition plans.
The company reported strong
cash flow from operating activities of Rs147.6 crore in FY2009 as
compared with Rs58.61 crore in FY2008 supported by a strong growth in
the net profit. The company?s net debt-to-equity ratio increased
marginally to 0.31x in FY2009 (versus 0.11x in FY2008). However, the
net working cycle deteriorated to 74 days of sales in FY2009 from 41
days of sales in FY2009 mainly due to a decline in the
creditors.
The company?s return ratios
improved in FY2009 mainly due to a strong growth in the net income.
The return on net worth (RoNW) increased to 16% in FY2009 from 14.6%
in FY2008. The return on capital employed (RoCE) also improved to
19.2% in FY2009 from 15.1% in FY2008.
Our latest interaction with
the company?s management indicates an uptick in the volumes especially
in the prefabs business (excluding BT shelters) and custom moldings.
Also, the company has witnessed an improvement in the execution in the
monolithic construction vertical. The management has maintained its
guidance of Rs700-750 crore revenues from the monolithic construction
segment. Also, the management has guided for a 10-12% revenue growth
in its prefabs business vertical.
We have fine-tuned our
earnings estimates based on the updates from the annual report. Our
revised earnings per share (EPS) estimates stand at Rs25.9 for FY2010
and Rs29 for FY2011, and imply an earnings growth of 26.2% yoy in
H2FY2010E. We believe that the growth would be driven by the high-margin
businesses: (1) the monolithic business (earnings before interest,
tax, depreciation and amortisation [EBITDA] margin of 18-19%); and (2)
the prefabs business (EBITDA margin of 18%). The volume growth from
the start of new businesses and acquisitions would also result in
growth.
At the current market price
the stock is trading at 8.9x and 7.9x FY2010E and FY2011E earnings
respectively. We maintain our Buy recommendation and price target of
Rs288 for the stock.
SECTOR UPDATE
Sugar
Government repeals Clause 3B of the FRP ordinance
In the backdrop of the severe
protests from the opposition parties in the Parliament (and from
farmers outside) over the fair and remunerative price (FRP) mechanism
for fixing the price of cane the central government has repealed
Clause 3B of the FRP ordinance.
The repealing of Clause 3B of
the FRP ordinance would mean that a state government will not have to
pay the excess of SAP over the FRP from its coffers and that the mills
would have to pay the same instead. We believe the development would
take the entire cane pricing system back to the old regime where state
governments were free to declare SAPs higher than the minimum price
announced by the central government (now the FRP against the earlier
statutory minimum price or SMP).
As against our estimates of sugar-cane price of ~Rs190
per quintal for FY2010 for the sugar manufacturing companies under our
coverage (Dhampur Sugar Mills and Balrampur Chini Mills), the current
indications are that the price of cane is likely to be higher by ~Rs20
per quintal at ~Rs210 per quintal. However, we believe this is
unlikely to have a significant impact on our net earnings estimates
for these companies as our estimates currently factor the net
realisations that are lower by ~Rs3-4 per kg of sugar compared with
the likely realisations (expected to exceed Rs32 per kg) for FY2010.
Thus, the net contribution per kg is likely to remain largely the same.
We await further clarity on the price of cane and thus maintain our
current earnings estimates and Buy recommendation for these two
companies.
Sintex Industries Cluster: Apple Green
Recommendation: Buy
Price target: Rs288
Current market price: Rs230
Annual report review
Key points
Sintex Industries (Sintex),
in its FY2009 annual report, has highlighted its strategy to focus on
its high-growth businesses like monolithic construction, prefabricated
structures (prefabs) and custom moulding. The company?s strong order
book especially the Rs1,500-crore orders for the monolithic business
for the next 18 months provides significant visibility for both
revenue and growth. Further, the company has also ventured into new
businesses, namely warehousing infrastructure, end-to-end
telecommunications (telecom) network solutions, rural electrification
and wastewater solutions.
Sintex invested Rs451 crore
in FY2009 for expansion of capacities across its business divisions.
With some of the expansion plans already generating returns, the
company has stated that the high-growth businesses, monolithic
construction, prefabs and custom moulding, will be expanded in a
phased manner till FY2011. We believe that the extended gestation
period would affect the returns temporarily but in the long term
Sintex would be a winner, given that (1) it is a pioneer in monolithic
construction and prefabricated structure businesses in the country;
(2) it has strong order book and presence in almost all states of the
country; and (3) it has unutilised funds to the tune of Rs877 crore to
strengthen its acquisition plans.
The company reported strong
cash flow from operating activities of Rs147.6 crore in FY2009 as
compared with Rs58.61 crore in FY2008 supported by a strong growth in
the net profit. The company?s net debt-to-equity ratio increased
marginally to 0.31x in FY2009 (versus 0.11x in FY2008). However, the
net working cycle deteriorated to 74 days of sales in FY2009 from 41
days of sales in FY2009 mainly due to a decline in the
creditors.
The company?s return ratios
improved in FY2009 mainly due to a strong growth in the net income.
The return on net worth (RoNW) increased to 16% in FY2009 from 14.6%
in FY2008. The return on capital employed (RoCE) also improved to
19.2% in FY2009 from 15.1% in FY2008.
Our latest interaction with
the company?s management indicates an uptick in the volumes especially
in the prefabs business (excluding BT shelters) and custom moldings.
Also, the company has witnessed an improvement in the execution in the
monolithic construction vertical. The management has maintained its
guidance of Rs700-750 crore revenues from the monolithic construction
segment. Also, the management has guided for a 10-12% revenue growth
in its prefabs business vertical.
We have fine-tuned our
earnings estimates based on the updates from the annual report. Our
revised earnings per share (EPS) estimates stand at Rs25.9 for FY2010
and Rs29 for FY2011, and imply an earnings growth of 26.2% yoy in
H2FY2010E. We believe that the growth would be driven by the high-margin
businesses: (1) the monolithic business (earnings before interest,
tax, depreciation and amortisation [EBITDA] margin of 18-19%); and (2)
the prefabs business (EBITDA margin of 18%). The volume growth from
the start of new businesses and acquisitions would also result in
growth.
At the current market price
the stock is trading at 8.9x and 7.9x FY2010E and FY2011E earnings
respectively. We maintain our Buy recommendation and price target of
Rs288 for the stock.
SECTOR UPDATE
Sugar
Government repeals Clause 3B of the FRP ordinance
In the backdrop of the severe
protests from the opposition parties in the Parliament (and from
farmers outside) over the fair and remunerative price (FRP) mechanism
for fixing the price of cane the central government has repealed
Clause 3B of the FRP ordinance.
The repealing of Clause 3B of
the FRP ordinance would mean that a state government will not have to
pay the excess of SAP over the FRP from its coffers and that the mills
would have to pay the same instead. We believe the development would
take the entire cane pricing system back to the old regime where state
governments were free to declare SAPs higher than the minimum price
announced by the central government (now the FRP against the earlier
statutory minimum price or SMP).
As against our estimates of sugar-cane price of ~Rs190
per quintal for FY2010 for the sugar manufacturing companies under our
coverage (Dhampur Sugar Mills and Balrampur Chini Mills), the current
indications are that the price of cane is likely to be higher by ~Rs20
per quintal at ~Rs210 per quintal. However, we believe this is
unlikely to have a significant impact on our net earnings estimates
for these companies as our estimates currently factor the net
realisations that are lower by ~Rs3-4 per kg of sugar compared with
the likely realisations (expected to exceed Rs32 per kg) for FY2010.
Thus, the net contribution per kg is likely to remain largely the same.
We await further clarity on the price of cane and thus maintain our
current earnings estimates and Buy recommendation for these two
companies.
Nifty will march ahead toward 5150-5200
levels, closing above which 5350 will be visible. Soon again bears will have
upper hand around 5100-5200 levels. Hot sector for the Week: Telecom.
For Online Calls join me in Yahoo Messenger:
ibnservicesdelhi OR ibnservice
OR nse_bse4gain
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