insurance

Exchange rate- 25 july 2008

2008-07-26T09:27:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	1,9536
Brazilian Real	1 BRL	1,2886
Bulgarian Lev	1 BGN	1,6392
Canadian Dollar	1 CAD	2,0117
Chinese Yuan Renminbi	1 CNY	0,2992
Croatian kuna	1 HRK	0,4441
Czech Koruna	1 CZK	0,1361
Danish Krone	1 DKK	0,4296
Estonian Kroon	1 EEK	0,2049
Euro	1 EUR	3,2060
Hong Kong Dollar	1 HKD	0,2617
Hungarian Forint	100 HUF	1,3884
Iceland Krona	100 ISK	2,5232
Indonesian Rupiah	10000 IDR	2,2420
Japanese Yen	100 JPY	1,9082
Latvian Lats	1 LVL	4,5598
Lithuanian Litas	1 LTL	0,9285
Malaysian Ringgit	1 MYR	0,6276
Mexican Peso	1 MXN	0,2035
New Zealand Dollar	1 NZD	1,5200
Norwegian Krone	1 NOK	0,3966
Philippine Peso	1 PHP	0,0464
Pound Sterling	1 GBP	4,0621
Romanian Leu	1 RON	0,8997
Russian Ruble	1 RUB	0,0874
Singapore Dollar	1 SGD	1,5019
Slovak Koruna	1 SKK	0,1055
South African Rand	1 ZAR	0,2680
South Korean Won	100 KRW	0,2025
Swedish Krona	1 SEK	0,3386
Swiss Franc	1 CHF	1,9741
Thai Baht	1 THB	0,0610
Turkish Lira	1 TRY	1,6936
Ukrainian Hryvnia	1 UAH	0,4413
US Dollar	1 USD	2,0420
SDR (IMF)	1 XDR	3,3230

Sasken Communication-25th July 2008

2008-07-26T09:18:00.000-07:00

SASKEN COMMUNICATION Has given a Bullish Breakout by breaking the Pennant formation and crossing the upper Trend Line at 150. Giving a chance for bulls to ride this Momentum.Rsi also giving support hence One can Go long with a stoploss of 147 for a Tgt of 175 and 190. Go for Great Guns.

ONGC (Oil and Natural Gas Corporation Ltd) - 21 july 2008

2008-07-24T08:45:00.000-07:00

ONGC(Oil and Natural Gas Corporation Ltd) has given a bullish breakout by breaking the resistance at 940 and is headed for 1000 and 1080. So one can Buy at this level and go for long with stoploss of 932.

Exchange rates- 24 july 2008

2008-07-24T08:43:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	1,9855
Brazilian Real	1 BRL	1,3051
Bulgarian Lev	1 BGN	1,6550
Canadian Dollar	1 CAD	2,0443
Chinese Yuan Renminbi	1 CNY	0,3025
Croatian kuna	1 HRK	0,4485
Czech Koruna	1 CZK	0,1370
Danish Krone	1 DKK	0,4338
Estonian Kroon	1 EEK	0,2069
Euro	1 EUR	3,2370
Hong Kong Dollar	1 HKD	0,2649
Hungarian Forint	100 HUF	1,3907
Iceland Krona	100 ISK	2,5871
Indonesian Rupiah	10000 IDR	2,2329
Japanese Yen	100 JPY	1,9191
Latvian Lats	1 LVL	4,6039
Lithuanian Litas	1 LTL	0,9375
Malaysian Ringgit	1 MYR	0,6373
Mexican Peso	1 MXN	0,2061
New Zealand Dollar	1 NZD	1,5333
Norwegian Krone	1 NOK	0,3999
Philippine Peso	1 PHP	0,0468
Pound Sterling	1 GBP	4,1047
Romanian Leu	1 RON	0,9063
Russian Ruble	1 RUB	0,0884
Singapore Dollar	1 SGD	1,5178
Slovak Koruna	1 SKK	0,1066
South African Rand	1 ZAR	0,2734
South Korean Won	100 KRW	0,2053
Swedish Krona	1 SEK	0,3419
Swiss Franc	1 CHF	1,9906
Thai Baht	1 THB	0,0617
Turkish Lira	1 TRY	1,7194
Ukrainian Hryvnia	1 UAH	0,4482
US Dollar	1 USD	2,0655
SDR (IMF)	1 XDR	3,3484

Sensex today-24 july 2008

2008-07-24T08:36:00.000-07:00

SENSEX	14777.01	-165.27
NIFTY	4433.55	-43.25
DJIA	11632.38	29.88
NASDAQ	2325.88	21.92
RS/$	42.33	0.40

Market update - 18th july 2008

2008-07-19T23:14:00.000-07:00

Reliance Capital Limited Has give a good breakout by breaking the uppertrend line at 1008 and closed above that. So one can Buy it with a stoploss of 1000 and Can Expect it to 1200+. So Go for Great Guns

Exchange Rates- 17th july 2008

2008-07-17T07:13:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	1,9863
Brazilian Real	1 BRL	1,2734
Bulgarian Lev	1 BGN	1,6486
Canadian Dollar	1 CAD	2,0290
Chinese Yuan Renminbi	1 CNY	0,2977
Croatian kuna	1 HRK	0,4462
Czech Koruna	1 CZK	0,1394
Danish Krone	1 DKK	0,4323
Estonian Kroon	1 EEK	0,2061
Euro	1 EUR	3,2245
Hong Kong Dollar	1 HKD	0,2606
Hungarian Forint	100 HUF	1,3949
Iceland Krona	100 ISK	2,6196
Indonesian Rupiah	10000 IDR	2,2177
Japanese Yen	100 JPY	1,9308
Latvian Lats	1 LVL	4,5868
Lithuanian Litas	1 LTL	0,9339
Malaysian Ringgit	1 MYR	0,6312
Mexican Peso	1 MXN	0,1978
New Zealand Dollar	1 NZD	1,5657
Norwegian Krone	1 NOK	0,3998
Philippine Peso	1 PHP	0,0453
Pound Sterling	1 GBP	4,0657
Romanian Leu	1 RON	0,9028
Russian Ruble	1 RUB	0,0875
Singapore Dollar	1 SGD	1,5042
Slovak Koruna	1 SKK	0,1063
South African Rand	1 ZAR	0,2679
South Korean Won	100 KRW	0,2007
Swedish Krona	1 SEK	0,3400
Swiss Franc	1 CHF	2,0001
Thai Baht	1 THB	0,0604
Turkish Lira	1 TRY	1,6796
Ukrainian Hryvnia	1 UAH	0,4413
US Dollar	1 USD	2,0331
SDR (IMF)	1 XDR	3,3357

Sensex and Nifty updates - 17th july 2008

2008-07-17T07:11:00.000-07:00

After a long gap sensex showed a positive growth

SENSEX	13111.85	536.05
NIFTY	3947.20	130.50
DJIA	11239.28	276.74
NASDAQ	2284.85	69.14
RS/$	43.07	0.10

No more Falls for DowJones

2008-07-17T07:08:00.000-07:00

As One Can See Dow Jones had took support at 11k Levels so one can expect a smart rally from here. Keep 10900 as stoploss and Take home your Long positions.

for additional information, click here

Will there be a recovery in Dow Jones

Market today - 17th july 2008

2008-07-17T07:05:00.000-07:00

GT OFFSHORE is at Oversold Position so one can buy it for a tgt of 440-460 in Short term no stoploss required.

Will there be a recovery in Dow Jones

2008-07-17T07:00:00.000-07:00

Dow Jones is Nearing Long Term Support Trendline. As One Can see This Meltdown Has Made lot of Negative things One can Buy here and hold for Good gain in Coming Year.

ADX Indicator is at +26 so it is now Trending to Make an Move So One can Expect a Smart Recovery in Dow jones(DJI)

stock market updates-16th july 2008

2008-07-16T09:03:00.000-07:00

Cipla is week below 203. There are two ways possible in this chart Lets see. One is when it breaks 203 its is headed for 185 and after that Recovery may come. condition 2 After that i can go for January Levels and retest it. Short Below 203 With a Stoploss of 208.

Stock market updates- 15th july 2008

2008-07-16T09:01:00.000-07:00

Infosys Has Give a bearish breakout by breaching the Lower Trendline and it is headed for 1350 So short with Stoploss of 1615 on closing basis.

Today's Sensex value

2008-07-16T08:59:00.000-07:00

SENSEX	12575.80	-100.39
NIFTY	3816.70	-44.40
DJIA	10962.54	-92.65
NASDAQ	2215.71	2.84
RS/$	43.17	0.35

Exchange Rate- 16th july 2008

2008-07-16T08:57:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	1,9831
Brazilian Real	1 BRL	1,2725
Bulgarian Lev	1 BGN	1,6515
Canadian Dollar	1 CAD	2,0218
Chinese Yuan Renminbi	1 CNY	0,2976
Croatian kuna	1 HRK	0,4470
Czech Koruna	1 CZK	0,1390
Danish Krone	1 DKK	0,4331
Estonian Kroon	1 EEK	0,2064
Euro	1 EUR	3,2301
Hong Kong Dollar	1 HKD	0,2600
Hungarian Forint	100 HUF	1,3868
Iceland Krona	100 ISK	2,6180
Indonesian Rupiah	10000 IDR	2,2215
Japanese Yen	100 JPY	1,9474
Latvian Lats	1 LVL	4,5974
Lithuanian Litas	1 LTL	0,9355
Malaysian Ringgit	1 MYR	0,6306
Mexican Peso	1 MXN	0,1967
New Zealand Dollar	1 NZD	1,5647
Norwegian Krone	1 NOK	0,4013
Philippine Peso	1 PHP	0,0446
Pound Sterling	1 GBP	4,0651
Romanian Leu	1 RON	0,8982
Russian Ruble	1 RUB	0,0875
Singapore Dollar	1 SGD	1,5049
Slovak Koruna	1 SKK	0,1066
South African Rand	1 ZAR	0,2644
South Korean Won	100 KRW	0,2011
Swedish Krona	1 SEK	0,3395
Swiss Franc	1 CHF	2,0132
Thai Baht	1 THB	0,0605
Turkish Lira	1 TRY	1,6641
Ukrainian Hryvnia	1 UAH	0,4379
US Dollar	1 USD	2,0276
SDR (IMF)	1 XDR	3,3250

Exchange Rate- 14th july 2008

2008-07-14T11:22:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	1,9845
Brazilian Real	1 BRL	1,2814
Bulgarian Lev	1 BGN	1,6650
Canadian Dollar	1 CAD	2,0269
Chinese Yuan Renminbi	1 CNY	0,3003
Croatian kuna	1 HRK	0,4503
Czech Koruna	1 CZK	0,1394
Danish Krone	1 DKK	0,4365
Estonian Kroon	1 EEK	0,2081
Euro	1 EUR	3,2564
Hong Kong Dollar	1 HKD	0,2629
Hungarian Forint	100 HUF	1,4140
Iceland Krona	100 ISK	2,6529
Indonesian Rupiah	10000 IDR	2,2462
Japanese Yen	100 JPY	1,9225
Latvian Lats	1 LVL	4,6354
Lithuanian Litas	1 LTL	0,9431
Malaysian Ringgit	1 MYR	0,6324
Mexican Peso	1 MXN	0,1993
New Zealand Dollar	1 NZD	1,5606
Norwegian Krone	1 NOK	0,4042
Philippine Peso	1 PHP	0,0453
Pound Sterling	1 GBP	4,0686
Romanian Leu	1 RON	0,9101
Russian Ruble	1 RUB	0,0883
Singapore Dollar	1 SGD	1,5131
Slovak Koruna	1 SKK	0,1075
South African Rand	1 ZAR	0,2693
South Korean Won	100 KRW	0,2043
Swedish Krona	1 SEK	0,3438
Swiss Franc	1 CHF	2,0068
Thai Baht	1 THB	0,0611
Turkish Lira	1 TRY	1,6852
Ukrainian Hryvnia	1 UAH	0,4446
US Dollar	1 USD	2,0529
SDR (IMF)	1 XDR	3,3531

Sensex today

2008-07-14T11:21:00.000-07:00

SENSEX	13330.51	-139.34
NIFTY	4039.70	-9.30
DJIA	11100.54	-128.48
NASDAQ	2239.08	-18.77
RS/$	42.72	-0.44

Market today-13th July Lanco Infratech Ltd

2008-07-14T11:18:00.000-07:00

Short Lanco Infra Below 281 With a stoploss of 287. For a Tgt of 240. As you Can see Double Top Formation in RSI also. So one can Short at that point of entry

Breakout - Orchid Chemicals (8th july 2008)

2008-07-08T09:52:00.000-07:00

Orchid Chemical's Has Given a Bullish Breakout. So Buy above 266 For a tgt of 280 With a Stoploss of 261.2

Sensex on degrowing phase

2008-07-08T09:48:00.000-07:00

SENSEX	13349.65	-176.34
NIFTY	3988.55	-41.45
DJIA	11231.96	-56.58
NASDAQ	2243.32	-2.06
RS/$	43.12	-0.09

Exchange Rate Today- 8th july 2008

2008-07-08T09:47:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0047
Brazilian Real	1 BRL	1,3076
Bulgarian Lev	1 BGN	1,6899
Canadian Dollar	1 CAD	2,0665
Chinese Yuan Renminbi	1 CNY	0,3067
Croatian kuna	1 HRK	0,4564
Czech Koruna	1 CZK	0,1399
Danish Krone	1 DKK	0,4432
Estonian Kroon	1 EEK	0,2112
Euro	1 EUR	3,3052
Hong Kong Dollar	1 HKD	0,2694
Hungarian Forint	100 HUF	1,4214
Iceland Krona	100 ISK	2,7689
Indonesian Rupiah	10000 IDR	2,2828
Japanese Yen	100 JPY	1,9751
Latvian Lats	1 LVL	4,6982
Lithuanian Litas	1 LTL	0,9572
Malaysian Ringgit	1 MYR	0,6444
Mexican Peso	1 MXN	0,2032
New Zealand Dollar	1 NZD	1,5801
Norwegian Krone	1 NOK	0,4122
Philippine Peso	1 PHP	0,0458
Pound Sterling	1 GBP	4,1564
Romanian Leu	1 RON	0,9195
Russian Ruble	1 RUB	0,0895
Singapore Dollar	1 SGD	1,5423
Slovak Koruna	1 SKK	0,1093
South African Rand	1 ZAR	0,2692
South Korean Won	100 KRW	0,2035
Swedish Krona	1 SEK	0,3505
Swiss Franc	1 CHF	2,0550
Thai Baht	1 THB	0,0624
Turkish Lira	1 TRY	1,7024
Ukrainian Hryvnia	1 UAH	0,4563
US Dollar	1 USD	2,1015
SDR (IMF)	1 XDR	3,4280

Market today-Bharat Heavy Electronics Limited(BHEL)(7th july)

2008-07-07T10:44:00.000-07:00

Bharat Heavy Electronics Limited(BHEL) has Given a Bullish Breakout of Breaching the Upper Trendline. So one can Buy With a stoploss of 1460 for a Target of 1700+.

For Details on JPASSOSCIAT and BAJAJ HINDUSTAN

Sensex today

2008-07-07T10:43:00.001-07:00

SENSEX	13525.99	71.99
NIFTY	4030.00	14.00
DJIA	11288.54	73.03
NASDAQ	2245.38	-6.08
RS/$	43.21	0.09

Exchange Rate - 7th july

2008-07-07T10:37:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0296
Brazilian Real	1 BRL	1,3165
Bulgarian Lev	1 BGN	1,6952
Canadian Dollar	1 CAD	2,0748
Chinese Yuan Renminbi	1 CNY	0,3089
Croatian kuna	1 HRK	0,4579
Czech Koruna	1 CZK	0,1405
Danish Krone	1 DKK	0,4446
Estonian Kroon	1 EEK	0,2119
Euro	1 EUR	3,3155
Hong Kong Dollar	1 HKD	0,2718
Hungarian Forint	100 HUF	1,4180
Iceland Krona	100 ISK	2,7378
Indonesian Rupiah	10000 IDR	2,2986
Japanese Yen	100 JPY	1,9713
Latvian Lats	1 LVL	4,7102
Lithuanian Litas	1 LTL	0,9602
Malaysian Ringgit	1 MYR	0,6478
Mexican Peso	1 MXN	0,2049
New Zealand Dollar	1 NZD	1,5999
Norwegian Krone	1 NOK	0,4167
Philippine Peso	1 PHP	0,0464
Pound Sterling	1 GBP	4,1778
Romanian Leu	1 RON	0,9194
Russian Ruble	1 RUB	0,0900
Singapore Dollar	1 SGD	1,5534
Slovak Koruna	1 SKK	0,1096
South African Rand	1 ZAR	0,2729
South Korean Won	100 KRW	0,2038
Swedish Krona	1 SEK	0,3529
Swiss Franc	1 CHF	2,0554
Thai Baht	1 THB	0,0630
Turkish Lira	1 TRY	1,7196
Ukrainian Hryvnia	1 UAH	0,4617
US Dollar	1 USD	2,1193
SDR (IMF)	1 XDR	3,4154

Sensex today - 4 jul 2008

2008-07-04T11:33:00.000-07:00

SENSEX	13454.00	359.89
NIFTY	4016.00	90.25
DJIA	11288.54	73.03
NASDAQ	2245.38	-6.08
RS/$	43.30	0.04

Exchange Rate - 4th july 2008

2008-07-04T11:31:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0398
Brazilian Real	1 BRL	1,3171
Bulgarian Lev	1 BGN	1,7012
Canadian Dollar	1 CAD	2,0861
Chinese Yuan Renminbi	1 CNY	0,3091
Croatian kuna	1 HRK	0,4597
Czech Koruna	1 CZK	0,1402
Danish Krone	1 DKK	0,4462
Estonian Kroon	1 EEK	0,2127
Euro	1 EUR	3,3273
Hong Kong Dollar	1 HKD	0,2719
Hungarian Forint	100 HUF	1,4241
Iceland Krona	100 ISK	2,7249
Indonesian Rupiah	10000 IDR	2,2994
Japanese Yen	100 JPY	1,9844
Latvian Lats	1 LVL	4,7189
Lithuanian Litas	1 LTL	0,9636
Malaysian Ringgit	1 MYR	0,6482
Mexican Peso	1 MXN	0,2050
New Zealand Dollar	1 NZD	1,6053
Norwegian Krone	1 NOK	0,4168
Philippine Peso	1 PHP	0,0467
Pound Sterling	1 GBP	4,1985
Romanian Leu	1 RON	0,9209
Russian Ruble	1 RUB	0,0901
Singapore Dollar	1 SGD	1,5570
Slovak Koruna	1 SKK	0,1099
South African Rand	1 ZAR	0,2739
South Korean Won	100 KRW	0,2018
Swedish Krona	1 SEK	0,3543
Swiss Franc	1 CHF	2,0663
Thai Baht	1 THB	0,0633
Turkish Lira	1 TRY	1,7135
Ukrainian Hryvnia	1 UAH	0,4629
US Dollar	1 USD	2,1199
SDR (IMF)	1 XDR	3,4276

Market 4th july - Steel Authority Of India

2008-07-04T11:16:00.000-07:00

Sail Has Given Bearish Breakout by Breaching lower Trendline and its headed for 115 and 102 hence short with stoploss of 134.

Market today -Bajaj Hindustan & Jpassosciates ,3rd july 2008

2008-07-03T00:05:00.000-07:00

Bajaj Hindustan Has Give a pennant Formation Hence Its has a breakout line at 174 above that it is headed for 200 and medium term target is 250. Buy With a Stoploss of 166.

Jp Assosciates is at Support and Has a Resistance at 148 Above that it will lead to 170.Buy With a Stoploss of 139.05 for 170.

Sensex - 2nd july 2008

2008-07-02T23:56:00.000-07:00

SENSEX	13038.03	-626.59
NIFTY	3917.25	-176.10
DJIA	11215.51	-166.75
NASDAQ	2251.46	-53.51
RS/$	43.34	-0.07

Exchange rate - 2nd july 2008

2008-07-02T23:54:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0373
Brazilian Real	1 BRL	1,3301
Bulgarian Lev	1 BGN	1,7158
Canadian Dollar	1 CAD	2,0783
Chinese Yuan Renminbi	1 CNY	0,3093
Croatian kuna	1 HRK	0,4632
Czech Koruna	1 CZK	0,1407
Danish Krone	1 DKK	0,4500
Estonian Kroon	1 EEK	0,2145
Euro	1 EUR	3,3558
Hong Kong Dollar	1 HKD	0,2723
Hungarian Forint	100 HUF	1,4183
Iceland Krona	100 ISK	2,6743
Indonesian Rupiah	10000 IDR	2,2995
Japanese Yen	100 JPY	1,9947
Latvian Lats	1 LVL	4,7593
Lithuanian Litas	1 LTL	0,9719
Malaysian Ringgit	1 MYR	0,6484
Mexican Peso	1 MXN	0,2049
New Zealand Dollar	1 NZD	1,6092
Norwegian Krone	1 NOK	0,4172
Philippine Peso	1 PHP	0,0470
Pound Sterling	1 GBP	4,2174
Romanian Leu	1 RON	0,9217
Russian Ruble	1 RUB	0,0907
Singapore Dollar	1 SGD	1,5595
Slovak Koruna	1 SKK	0,1108
South African Rand	1 ZAR	0,2702
South Korean Won	100 KRW	0,2041
Swedish Krona	1 SEK	0,3548
Swiss Franc	1 CHF	2,0815
Thai Baht	1 THB	0,0636
Turkish Lira	1 TRY	1,7156
Ukrainian Hryvnia	1 UAH	0,4595
US Dollar	1 USD	2,1222
SDR (IMF)	1 XDR	3,4790

Sensex slips nearly 500 pts down

2008-07-01T10:19:00.000-07:00

SENSEX	12961.68	-499.92
NIFTY	3896.75	-143.80
DJIA	11350.01	3.50
NASDAQ	2292.98	-22.65
RS/$	42.95	-0.16

Exchange Rate today - 1st july 2008

2008-07-01T10:18:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0343
Brazilian Real	1 BRL	1,3274
Bulgarian Lev	1 BGN	1,7150
Canadian Dollar	1 CAD	2,0919
Chinese Yuan Renminbi	1 CNY	0,3105
Croatian kuna	1 HRK	0,4633
Czech Koruna	1 CZK	0,1401
Danish Krone	1 DKK	0,4498
Estonian Kroon	1 EEK	0,2144
Euro	1 EUR	3,3543
Hong Kong Dollar	1 HKD	0,2731
Hungarian Forint	100 HUF	1,4239
Iceland Krona	100 ISK	2,6981
Indonesian Rupiah	10000 IDR	2,3080
Japanese Yen	100 JPY	2,0153
Latvian Lats	1 LVL	4,7579
Lithuanian Litas	1 LTL	0,9714
Malaysian Ringgit	1 MYR	0,6531
Mexican Peso	1 MXN	0,2066
New Zealand Dollar	1 NZD	1,6194
Norwegian Krone	1 NOK	0,4190
Philippine Peso	1 PHP	0,0473
Pound Sterling	1 GBP	4,2529
Romanian Leu	1 RON	0,9213
Russian Ruble	1 RUB	0,0907
Singapore Dollar	1 SGD	1,5636
Slovak Koruna	1 SKK	0,1112
South African Rand	1 ZAR	0,2703
South Korean Won	100 KRW	0,2029
Swedish Krona	1 SEK	0,3548
Swiss Franc	1 CHF	2,0881
Thai Baht	1 THB	0,0634
Turkish Lira	1 TRY	1,7205
Ukrainian Hryvnia	1 UAH	0,4710
US Dollar	1 USD	2,1293
SDR (IMF)	1 XDR	3,4761

Sensex and Nifty today - 30th june 2008

2008-06-30T06:56:00.002-07:00

SENSEX	13461.60	-340.62
NIFTY	4040.55	-96.10
DJIA	11346.51	-106.91
NASDAQ	2315.63	-5.74
RS/$	42.79	-0.06

Exchange rates - 30th june 2008

2008-06-30T06:56:00.001-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0476
Brazilian Real	1 BRL	1,3287
Bulgarian Lev	1 BGN	1,7150
Canadian Dollar	1 CAD	2,1002
Chinese Yuan Renminbi	1 CNY	0,3091
Croatian kuna	1 HRK	0,4633
Czech Koruna	1 CZK	0,1400
Danish Krone	1 DKK	0,4497
Estonian Kroon	1 EEK	0,2144
Euro	1 EUR	3,3542
Hong Kong Dollar	1 HKD	0,2718
Hungarian Forint	100 HUF	1,4143
Iceland Krona	100 ISK	2,6418
Indonesian Rupiah	10000 IDR	2,2976
Japanese Yen	100 JPY	2,0156
Latvian Lats	1 LVL	4,7611
Lithuanian Litas	1 LTL	0,9714
Malaysian Ringgit	1 MYR	0,6531
Mexican Peso	1 MXN	0,2060
New Zealand Dollar	1 NZD	1,6218
Norwegian Krone	1 NOK	0,4197
Philippine Peso	1 PHP	0,0471
Pound Sterling	1 GBP	4,2271
Romanian Leu	1 RON	0,9189
Russian Ruble	1 RUB	0,0906
Singapore Dollar	1 SGD	1,5617
Slovak Koruna	1 SKK	0,1110
South African Rand	1 ZAR	0,2691
South Korean Won	100 KRW	0,2027
Swedish Krona	1 SEK	0,3554
Swiss Franc	1 CHF	2,0907
Thai Baht	1 THB	0,0633
Turkish Lira	1 TRY	1,7281
Ukrainian Hryvnia	1 UAH	0,4662
US Dollar	1 USD	2,1194
SDR (IMF)	1 XDR	3,4716

Nifty- 30th june 2008

2008-06-30T06:54:00.000-07:00

Nifty is Heading Towards Longterm TrendLine supports so one can Expect Some Pullback at the support Levels. So buy near 4010 With stoploss of 3960.

Sensex today- 27 june 2008

2008-06-27T08:36:00.001-07:00

SENSEX	13802.22	-619.60
NIFTY	4136.65	-179.20
DJIA	11453.42	-358.41
NASDAQ	2321.37	-79.89
RS/$	42.73	0.09

Exchange Rates - 27 june 2008

2008-06-27T08:32:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0557
Brazilian Real	1 BRL	1,3338
Bulgarian Lev	1 BGN	1,7227
Canadian Dollar	1 CAD	2,1165
Chinese Yuan Renminbi	1 CNY	0,3115
Croatian kuna	1 HRK	0,4649
Czech Koruna	1 CZK	0,1401
Danish Krone	1 DKK	0,4518
Estonian Kroon	1 EEK	0,2153
Euro	1 EUR	3,3694
Hong Kong Dollar	1 HKD	0,2739
Hungarian Forint	100 HUF	1,4095
Iceland Krona	100 ISK	2,6589
Indonesian Rupiah	10000 IDR	2,3170
Japanese Yen	100 JPY	2,0112
Latvian Lats	1 LVL	4,7874
Lithuanian Litas	1 LTL	0,9758
Malaysian Ringgit	1 MYR	0,6560
Mexican Peso	1 MXN	0,2073
New Zealand Dollar	1 NZD	1,6231
Norwegian Krone	1 NOK	0,4222
Philippine Peso	1 PHP	0,0477
Pound Sterling	1 GBP	4,2446
Romanian Leu	1 RON	0,9216
Russian Ruble	1 RUB	0,0912
Singapore Dollar	1 SGD	1,5675
Slovak Koruna	1 SKK	0,1112
South African Rand	1 ZAR	0,2692
South Korean Won	100 KRW	0,2050
Swedish Krona	1 SEK	0,3581
Swiss Franc	1 CHF	2,0972
Thai Baht	1 THB	0,0638
Turkish Lira	1 TRY	1,7329
Ukrainian Hryvnia	1 UAH	0,4685
US Dollar	1 USD	2,1366
SDR (IMF)	1 XDR	3,4830

Market update-26th June Cairn

2008-06-26T03:41:00.000-07:00

As We See that cairn has breached the support which was previous resistance and now Cairn has Multiple Resistance at the levels at 270. So If Cairn Breaks the Level of 270 With Good Volumes and Stays above it and the stock is heading for 350 Levels. Buy above 270 With Stoploss of 267.

Exchange rate - 26 june 2008

2008-06-26T03:40:00.001-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0554
Brazilian Real	1 BRL	1,3464
Bulgarian Lev	1 BGN	1,7172
Canadian Dollar	1 CAD	2,1211
Chinese Yuan Renminbi	1 CNY	0,3120
Croatian kuna	1 HRK	0,4634
Czech Koruna	1 CZK	0,1393
Danish Krone	1 DKK	0,4503
Estonian Kroon	1 EEK	0,2146
Euro	1 EUR	3,3585
Hong Kong Dollar	1 HKD	0,2744
Hungarian Forint	100 HUF	1,4232
Iceland Krona	100 ISK	2,6745
Indonesian Rupiah	10000 IDR	2,3240
Japanese Yen	100 JPY	1,9860
Latvian Lats	1 LVL	4,7794
Lithuanian Litas	1 LTL	0,9727
Malaysian Ringgit	1 MYR	0,6578
Mexican Peso	1 MXN	0,2085
New Zealand Dollar	1 NZD	1,6211
Norwegian Krone	1 NOK	0,4225
Philippine Peso	1 PHP	0,0482
Pound Sterling	1 GBP	4,2376
Romanian Leu	1 RON	0,9201
Russian Ruble	1 RUB	0,0911
Singapore Dollar	1 SGD	1,5676
Slovak Koruna	1 SKK	0,1109
South African Rand	1 ZAR	0,2715
South Korean Won	100 KRW	0,2063
Swedish Krona	1 SEK	0,3569
Swiss Franc	1 CHF	2,0730
Thai Baht	1 THB	0,0639
Turkish Lira	1 TRY	1,7590
Ukrainian Hryvnia	1 UAH	0,4631
US Dollar	1 USD	2,1420
SDR (IMF)	1 XDR	3,4871

Sensex-25 june 2008

2008-06-26T03:39:00.001-07:00

SENSEX	14421.82	201.75
NIFTY	4315.85	63.20
DJIA	11811.83	4.40
NASDAQ	2401.26	32.98
RS/$	42.82	0.21

Sensex today- 23rd june 2008

2008-06-23T08:18:00.000-07:00

SENSEX	14293.32	-277.97
NIFTY	4266.40	-81.15
DJIA	11842.69	-220.40
NASDAQ	2406.09	-55.97
RS/$	42.97	0.04

Stock market updates-23rd June Bharat Forge

2008-06-23T08:16:00.000-07:00

Bharat Forge Has Give An Intresting charts Two Types of Trade Are available.
1. Short Bhart Forge With stoploss of 248 for a tgt of 210-220.(or) Short Below 236
2.Go Long with a stoploss of 236 for a tgt of 270 and 300

India cements-20th June

2008-06-21T11:37:00.000-07:00

India Cements Has Given Breakout and is Headed for 185 Levels and Medium Term Tgt is 210. Stoploss would be 161 on closing basis.

Stock market updates- sensex continues its downgrade

2008-06-21T11:35:00.000-07:00

SENSEX	14571.29	-516.70
NIFTY	4347.55	-156.70
DJIA	11842.69	-220.40
NASDAQ	2406.09	-55.97
RS/$	42.97	0.04

Exchange rate table- 20 june 2008

2008-06-21T11:33:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0594
Brazilian Real	1 BRL	1,3465
Bulgarian Lev	1 BGN	1,7211
Canadian Dollar	1 CAD	2,1306
Chinese Yuan Renminbi	1 CNY	0,3143
Croatian kuna	1 HRK	0,4644
Czech Koruna	1 CZK	0,1397
Danish Krone	1 DKK	0,4514
Estonian Kroon	1 EEK	0,2151
Euro	1 EUR	3,3662
Hong Kong Dollar	1 HKD	0,2770
Hungarian Forint	100 HUF	1,4065
Iceland Krona	100 ISK	2,6749
Indonesian Rupiah	10000 IDR	2,3289
Japanese Yen	100 JPY	2,0045
Latvian Lats	1 LVL	4,7897
Lithuanian Litas	1 LTL	0,9749
Malaysian Ringgit	1 MYR	0,6668
Mexican Peso	1 MXN	0,2098
New Zealand Dollar	1 NZD	1,6465
Norwegian Krone	1 NOK	0,4186
Philippine Peso	1 PHP	0,0488
Pound Sterling	1 GBP	4,2643
Romanian Leu	1 RON	0,9176
Russian Ruble	1 RUB	0,0916
Singapore Dollar	1 SGD	1,5833
Slovak Koruna	1 SKK	0,1109
South African Rand	1 ZAR	0,2723
South Korean Won	100 KRW	0,2100
Swedish Krona	1 SEK	0,3581
Swiss Franc	1 CHF	2,0790
Thai Baht	1 THB	0,0647
Turkish Lira	1 TRY	1,7725
Ukrainian Hryvnia	1 UAH	0,4643
US Dollar	1 USD	2,1625
SDR (IMF)	1 XDR	3,5128

Steep drop in sensex

2008-06-19T23:42:00.000-07:00

The markets extended their hefty losses for the second day on Thursday with the Sensex shedding over 300 points as stocks of realty, bank and consumer goods sectors came under heavy selling pressure following weak Asian cues and political uncertainty at the Centre.

The 30-share index on the Bombay Stock Exchange closed at 15087.99 against Wednesday’s close of 15422.31, a fall of 334.32 points.

Ranbaxy Labs, which announced settlement of most of its patent litigation over cholesterol lowering drug Lipitor with the U.S.-based Pfizer, was battered on the BSE with shares closing down by a significant 7.68 per cent.

Rupee falls

The rupee lost eight paise at 42.9650/9750 against the dollar on Thursday. At the interbank foreign exchange market, the rupee resumed lower at 42.92/94 and moved in a range of 42.92 and 42.98 before ending at 42.9650/9750 against Wednesday’s close of 42.88/89.

Its time for small retailers

2008-06-19T23:38:00.000-07:00

The fledgling retail sector is set to witness a spate of sellouts amid falling valuations. Small grocery retail chains, typically with less than 100 stores, are sending feelers to bigger chains and potential new entrants for possible buyouts.

The lack of funds is casting a doubt on their sustenance and ability to scale up in the low-margin and dog-eat-dog world of retail business. What is making matters worse is that big retailers—the likely buyers—have already garnered some experience and achieved a sizeable presence and want to buy out smaller players only on their own terms.

Some months ago, a north Indian supermarket chain called off a prospective selloff deal with a business house because it wanted a much higher valuation. The chain is now back in the market scouting for a buyer, but this time the asking price is 30% less. Similarly, a south-based chain is sounding out prospective buyers for a complete sellout. Representatives of another small retail chain are approaching even real estate players with retail plans, sending out proposals under fictitious names so that its identity is not leaked in the market.

“We are not averse to selling out but only after we have set up 500 stores. If the promoters of Ranbaxy can sell out, why not us?” says a retailer, who owns 50-60 stores in NCR. He says he hasn’t been approached by any big Indian retailer for a possible buyout so far. According to Ernst & Young Partner (retail) Pinakiranjan Mishra, the bargaining power has shifted from small retailers to potential buyers in the past six months.

“It will still make sense for big Indian retailers to buy the smaller ones in markets where they are not present. Also, they will get a good deal today since small retailers are desperate for cash infusion. FDI restriction bars private equity as well as big foreign retailers from investing in Indian retailers,” says Mr Mishra.

Tables have clearly turned since the retail revolution began two years ago. When the big business houses entered the scene and started wooing regional business chains for buying them out to build immediate scale, the owners acted pricey. While some deals were sealed, majority of the negotiations didn’t consummate on account of high asking prices.

Since then, large conglomerates, whether it is Reliance Retail or Spencer’s, have moved on their own and built a fairly big retail presence across all formats. They have locked in real estate space and built management bandwidth. So, they see no value in regional players anymore, barring one or two. On the other hand, small players, some of whom had built their businesses only to sell at a targeted period, find themselves pushed to a corner.

They don’t have money to pump into the business on a sustained basis. More importantly, real estate prices have started correcting, so the edge of having signed real estate at a cheaper price much in advance is no longer there. “The rentals have corrected by as much as 15-20% since January this year,” says grocery chain LM@365 owner Prem Garg.

“I have signed locations for supermarkets that will be launched 6-8 months from now at prices that are 15-20% cheaper than what a retailer negotiated two years ago? So, where is the advantage?’’ asked a large retailer who has been approached by two small retailers for an alliance.

These small retailers have mainly been present in convenience store formats in residential areas. Significantly, since the Delhi government has put off its drive to shut commercial establishments in residential areas, there is an increased supply of space for convenience stores.

Also, regional players were under the impression that accumulating square feet area (number of stores) and creating a brand with some visibility were enough to claim a high valuation. What they didn’t anticipate is the real estate crash. “In this backdrop, valuations are bound to come down because they lack a clear business model, sustainable profits and robust supply chain,’’ said retail consultancy Technopak’s Arvind Singhal.

Tata steel - 19th june

2008-06-19T23:36:00.000-07:00

Tatasteel Has give bearish breakout on lower trendline so it is headed towards 800 and 780. If there is any gap down dont go for shorting. Short stoploss 829 cmp 822.

Market today -19 june 2008

2008-06-19T23:34:00.000-07:00

SENSEX	15036.78	-51.21
NIFTY	4481.95	-22.30
DJIA	12063.09	34.03
NASDAQ	2462.06	32.35
RS/$	42.93	0.03

Echange Rate table- 19 june 2008

2008-06-19T23:32:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0560
Brazilian Real	1 BRL	1,3516
Bulgarian Lev	1 BGN	1,7223
Canadian Dollar	1 CAD	2,1357
Chinese Yuan Renminbi	1 CNY	0,3160
Croatian kuna	1 HRK	0,4648
Czech Koruna	1 CZK	0,1395
Danish Krone	1 DKK	0,4516
Estonian Kroon	1 EEK	0,2153
Euro	1 EUR	3,3685
Hong Kong Dollar	1 HKD	0,2783
Hungarian Forint	100 HUF	1,3909
Iceland Krona	100 ISK	2,6310
Indonesian Rupiah	10000 IDR	2,3408
Japanese Yen	100 JPY	2,0159
Latvian Lats	1 LVL	4,7800
Lithuanian Litas	1 LTL	0,9756
Malaysian Ringgit	1 MYR	0,6648
Mexican Peso	1 MXN	0,2106
New Zealand Dollar	1 NZD	1,6470
Norwegian Krone	1 NOK	0,4193
Philippine Peso	1 PHP	0,0489
Pound Sterling	1 GBP	4,2791
Romanian Leu	1 RON	0,9173
Russian Ruble	1 RUB	0,0919
Singapore Dollar	1 SGD	1,5867
Slovak Koruna	1 SKK	0,1110
South African Rand	1 ZAR	0,2702
South Korean Won	100 KRW	0,2113
Swedish Krona	1 SEK	0,3581
Swiss Franc	1 CHF	2,0840
Thai Baht	1 THB	0,0649
Turkish Lira	1 TRY	1,7656
Ukrainian Hryvnia	1 UAH	0,4638
US Dollar	1 USD	2,1731
SDR (IMF)	1 XDR	3,5070

Stocks rise, but traders cautious ahead of inflation

2008-06-19T23:27:00.001-07:00

Stocks opened higher on Friday tracking advances in certain East Asian markets on account of a drop in crude oil. But dealers warned the rise may be short lived as the market awaits inflation data expected around noon.

At 10:05 am, the National Stock Exchange’s Nifty was up 12 points or 0.27 per cent at 4516.60.

The Bombay Stock Exchange’s Sensex was up 70 points or 0.46 per cent at 15,157.12.

Biggest Sensex gainers were ONGC (up 1.93%), BHEL (1.54%), DLF (1.15%), Grasim Industries (1.11%), NTPC (1.09%) and Infosys Technologies (1.07%).

Losers comprised Bharti Airtel (down 0.7%), Reliance Industries (0.29%), Reliance Communications (0.25%) and ITC (0.12%).

Market breadth on BSE showed 501 advances against 188 declines.

“The morning buoyancy will be on account of the $4.75 slide in crude, which in turn was reacting to the decision of China to increase the fuel prices by 17 per cent. The market hopes that the price hike will reduce consumption and may help in cooling crude prices,” said Anagram Stock Broking in a note to clients.

“We believe the move will not reduce consumption, though crude can temporarily face pressure. Secondly, this price hike will add to the inflation woes further and this higher inflation will be exported to other countries by China. The view remains to be on the sidelines and use any rise to lighten commitments,” the brokerage added.

Following China’s decision to hike oil prices in order to curb consumption, the CSI 300 Index shot up 4.86 per cent in China, the Hang Seng was up 1.71 per cent in Hong Kong and the Straits Times added 0.93 per cent in Singapore. The Nikkei 225, however, was down 0.95 per cent in Japan.

Oil slipped further on Friday, after a nearly $5 plunge a day ago, as China's move to raise fuel prices raised concerns that demand in the world's second-largest oil consumer will fall. US July crude, which expires later in the day, fell 66 cents to $131.27 a barrel.

The rupee was trading at 42.96/97 a dollar, from the previous close of 42.97/98.

Inflation data due around noon, is expected to have risen to a 13-year high of 9.82 per cent in the week to June 7, higher than the previous week's 8.75 per cent.

US stocks rose on Thursday as a drop in oil prices fueled investor optimism about consumer spending, driving shares of transportation and retailers sharply higher. The Dow Jones Industrial Average gained 0.28 per cent, the Standards & Poor’s 500 Index added 0.38 per cent and the Nasdaq Composite Index rose 1.33 per cent.

Stock market updates-18th June 2008 Balrampur chini sugars

2008-06-19T23:20:00.000-07:00

Balrampur chini is Looking Good and may towards 105-110 Levels in Coming weeks One can Buy.

Exchange Rates-17 june 2008

2008-06-17T09:52:00.001-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0549
Brazilian Real	1 BRL	1,3457
Bulgarian Lev	1 BGN	1,7308
Canadian Dollar	1 CAD	2,1434
Chinese Yuan Renminbi	1 CNY	0,3174
Croatian kuna	1 HRK	0,4672
Czech Koruna	1 CZK	0,1399
Danish Krone	1 DKK	0,4539
Estonian Kroon	1 EEK	0,2164
Euro	1 EUR	3,3852
Hong Kong Dollar	1 HKD	0,2801
Hungarian Forint	100 HUF	1,3714
Iceland Krona	100 ISK	2,7381
Indonesian Rupiah	10000 IDR	2,3501
Japanese Yen	100 JPY	2,0227
Latvian Lats	1 LVL	4,7963
Lithuanian Litas	1 LTL	0,9804
Malaysian Ringgit	1 MYR	0,6703
Mexican Peso	1 MXN	0,2121
New Zealand Dollar	1 NZD	1,6499
Norwegian Krone	1 NOK	0,4218
Philippine Peso	1 PHP	0,0494
Pound Sterling	1 GBP	4,2878
Romanian Leu	1 RON	0,9247
Russian Ruble	1 RUB	0,0924
Singapore Dollar	1 SGD	1,5992
Slovak Koruna	1 SKK	0,1117
South African Rand	1 ZAR	0,2729
South Korean Won	100 KRW	0,2138
Swedish Krona	1 SEK	0,3620
Swiss Franc	1 CHF	2,0958
Thai Baht	1 THB	0,0659
Turkish Lira	1 TRY	1,7742
Ukrainian Hryvnia	1 UAH	0,4642
US Dollar	1 USD	2,1835
SDR (IMF)	1 XDR	3,5331

Stock Market updates-17 june 2008

2008-06-17T09:49:00.000-07:00

SENSEX	15696.90	301.08
NIFTY	4653.00	80.50
DJIA	12269.08	-38.27
NASDAQ	2474.78	20.28
RS/$	42.90	-0.03

Exchange Rate Table-13th june 2008

2008-06-16T00:29:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0599
Brazilian Real	1 BRL	1,3487
Bulgarian Lev	1 BGN	1,7340
Canadian Dollar	1 CAD	2,1494
Chinese Yuan Renminbi	1 CNY	0,3193
Croatian kuna	1 HRK	0,4680
Czech Koruna	1 CZK	0,1400
Danish Krone	1 DKK	0,4548
Estonian Kroon	1 EEK	0,2168
Euro	1 EUR	3,3915
Hong Kong Dollar	1 HKD	0,2820
Hungarian Forint	100 HUF	1,3721
Iceland Krona	100 ISK	2,7975
Indonesian Rupiah	10000 IDR	2,3579
Japanese Yen	100 JPY	2,0382
Latvian Lats	1 LVL	4,7916
Lithuanian Litas	1 LTL	0,9822
Malaysian Ringgit	1 MYR	0,6705
Mexican Peso	1 MXN	0,2124
New Zealand Dollar	1 NZD	1,6456
Norwegian Krone	1 NOK	0,4208
Philippine Peso	1 PHP	0,0496
Pound Sterling	1 GBP	4,2911
Romanian Leu	1 RON	0,9256
Russian Ruble	1 RUB	0,0927
Singapore Dollar	1 SGD	1,5974
Slovak Koruna	1 SKK	0,1119
South African Rand	1 ZAR	0,2712
South Korean Won	100 KRW	0,2108
Swedish Krona	1 SEK	0,3619
Swiss Franc	1 CHF	2,1063
Thai Baht	1 THB	0,0664
Turkish Lira	1 TRY	1,7565
Ukrainian Hryvnia	1 UAH	0,4677
US Dollar	1 USD	2,2035
SDR (IMF)	1 XDR	3,5439

Stock Market updates-13 jun 2008

2008-06-16T00:28:00.000-07:00

SENSEX	15435.62	246.00
NIFTY	4579.00	61.90
DJIA	12307.35	165.77
NASDAQ	2454.50	50.15
RS/$	42.87	-0.06

Stock market-13th june 2008

2008-06-13T22:40:00.000-07:00

Sasken Looks Good at this Level Buy above 126 for 133-135. Medium term tgt 150.

Market Today

2008-06-12T09:56:00.000-07:00

Indices

SENSEX – Jun 12 4:00PM
15250.20 (64.88)

Index	Current	% Diff
BSE Sensex	15250.20	0.43
BSE 200	2196.12	-0.96
BSE 500	7047.60	-1.11
BSE Technology	3843.34	3.73

NIFTY – Jun 12 4:45PM
4539.35 (15.75)

Index	Current	% Diff
S&P CNX Nifty	4539.35	0.35
CNX Nifty Junior	7414.95	0.52
S&P CNX Defty	3672.40	0.58
S&P CNX 500	3645.60	0.36

Gainers and Losers

Top 5 BSE Gainers

Name	Current	% Diff
MASL	145.20	20.00
SOLECTEMS	117.95	18.96
GHCL	63.45	18.05
TAINPOLY	56.00	16.67
GWALCHEM	83.65	15.54

Top 5 NSE Gainers

Name	Current	% Diff
MASL	145.70	20.02
GHCL	63.60	18.55
GWALCHEM	83.65	16.10
CERASANI	127.40	14.47
JYOTISTR	126.30	14.25

Top 5 BSE Losers

Name	Current	% Diff
BRADMOR	91.05	-10.16
SAVEHTL	66.80	-9.73
SYSCORP	40.65	-9.57
SHOWEXPO	67.00	-9.40
JMAIND	126.50	-9.32

Top 5 NSE Losers

Name	Current	% Diff
SHREIND	28.70	-10.17
ENKEI	45.25	-7.46
JVSL	996.90	-7.38
NAHARENT	53.30	-7.30
BAJAJFINSV	605.90	-7.28

Top Turnovers by Volume and Value

Top Turnover -> VOLUME

BSE

Name	Curr. Volume(lakhs)
IFCI	315.00
RPL	212.00
RELINATU	184.00
SPICETELE	131.00
SUZENER	115.00

Top Turnover -> VALUE

BSE

Name	Curr. Value(Rs/lkh)
RIL	42696.27
RPL	38358.35
SUZENER	29099.34
RELCAP	25469.20
DLF	22352.28

NSE

Name	Curr. Volume(lakhs)
NIFTY	4952.00
IFCI	631.00
RPL	337.00
RELINATU	311.00
CHAMBALF	211.00

NSE

Name	Curr. Value(Rs/lkh)
NIFTY	22480745.08
RIL	119267.28
RELCAP	66385.48
RPL	60837.10
BHEL	58640.48

Exchange rate table - 12th june 2008

2008-06-12T09:53:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0559
Brazilian Real	1 BRL	1,3372
Bulgarian Lev	1 BGN	1,7314
Canadian Dollar	1 CAD	2,1437
Chinese Yuan Renminbi	1 CNY	0,3175
Croatian kuna	1 HRK	0,4672
Czech Koruna	1 CZK	0,1388
Danish Krone	1 DKK	0,4540
Estonian Kroon	1 EEK	0,2164
Euro	1 EUR	3,3863
Hong Kong Dollar	1 HKD	0,2809
Hungarian Forint	100 HUF	1,3692
Iceland Krona	100 ISK	2,8083
Indonesian Rupiah	10000 IDR	2,3518
Japanese Yen	100 JPY	2,0407
Latvian Lats	1 LVL	4,8217
Lithuanian Litas	1 LTL	0,9807
Malaysian Ringgit	1 MYR	0,6699
Mexican Peso	1 MXN	0,2101
New Zealand Dollar	1 NZD	1,6519
Norwegian Krone	1 NOK	0,4220
Philippine Peso	1 PHP	0,0493
Pound Sterling	1 GBP	4,2791
Romanian Leu	1 RON	0,9237
Russian Ruble	1 RUB	0,0924
Singapore Dollar	1 SGD	1,5905
Slovak Koruna	1 SKK	0,1117
South African Rand	1 ZAR	0,2748
South Korean Won	100 KRW	0,2114
Swedish Krona	1 SEK	0,3614
Swiss Franc	1 CHF	2,1066
Thai Baht	1 THB	0,0662
Turkish Lira	1 TRY	1,7465
Ukrainian Hryvnia	1 UAH	0,4638
US Dollar	1 USD	2,1941
SDR (IMF)	1 XDR	3,5252

Glaxo looked at Ranbaxy deal - sources

2008-06-12T09:49:00.001-07:00

GlaxoSmithKline Plc also weighed a deal with Ranbaxy Laboratories Ltd before the Indian drugmaker agreed to cede control to Daiichi Sankyo Co Ltd, two sources familiar with the situation said on Thursday.

Japan's Daiichi struck an agreement this week to pay up to $4.6 billion for control of Ranbaxy, securing it access to India's biggest maker of generic medicines, as well as a stronger position in emerging markets.

Daiichi, however, was not the only branded drugmaker in discussions with Ranbaxy. British-based Glaxo also showed keen interest, the sources said.

Officials at Glaxo and Ranbaxy declined to comment.

Glaxo, the world's second-largest drugmaker, already has an established relationship with Ranbaxy, through a drug discovery and clinical development alliance.

Glaxo's new CEO Andrew Witty has also made clear in recent weeks that he plans to make emerging markets a key area for future growth.

"There is a realisation that the business model may need to change and that actually being in generics can open up new markets," said one source.

Indian television channel CNBC-TV18 reported that Glaxo had offered 770 rupees per share for control of Ranbaxy -- more than Daiichi -- but its offer was linked to conditions that stalled the process.

Daiichi is to buy the 34.8 percent controlling stake held by Ranbaxy's founders, the Singh family, for 737 rupees per share. It will also make an open offer for up to a further 20 percent of Ranbaxy shares.

CNBC-TV18 added that Sanofi-Aventis SA of France was also a potential bidder at one stage but then dropped out.

The deal between Daiichi, a traditional branded drugs firm, and Ranbaxy took many in the industry by surprise, since most big branded drugmakers, with the notable exception of Switzerland's Novartis AG, have shunned the generics sector.

Some analysts believe the Daiichi-Ranbaxy deal could be a sign that things are now about to change.

Acquiring companies making low-cost, off-patent generics could help large drugmakers diversify at a time when their core markets in Europe and the United States are under pressure and many blockbuster drugs are losing patent protection.

Chart-12th june 2008

2008-06-12T09:21:00.000-07:00

Gmr Infra Looks Over Sold and can see a bounce till 115-120. Buy it for investment also for one Year.

Rupee inches up after RBI rate increase

2008-06-12T09:10:00.000-07:00

The Indian rupee crept up on Thursday as a hike in the central bank's key lending rate boosted sentiment for the local unit, but gains were capped by a rise in global oil prices and a wobbly stock market.

The partially convertible rupee ended at 42.8350/8450 per dollar, 0.05 percent stronger than Wednesday's close of 42.86/87. It had hit a 13-month low of 43.21 on May 22.

"The rupee was stuck between oil being on the high side and the rate hike. But the stock market shrugged off the rate hike and ended in positive territory, so the rupee also should hold steady for a while," a dealer with a private bank said.

India's central bank raised its key lending rate for the first time in more than a year on Wednesday, and economists saw more policy tightening to come as a recent rise in state-set fuel prices threatened near double-digit inflation.

India's main stock index rebounded from an early slide to close 0.4 percent higher on Thursday, as some investors viewed concerns over the quarter-point rate hike as overdone, but analysts doubted the strength of the rally.

The benchmark index is down about a quarter in 2008, with foreign funds pulling out nearly $5.3 billion, weakening a key support for the rupee and pushing it down 8 percent this year. Oil was trading above $133 a barrel after having touched a record $139 last week.

India imports two-thirds of its oil needs and importers are the biggest buyers of dollars in the local currency market. Dealers said they expect the rupee to trade in a band of 42.70 to 42.90 on Friday, as fears the central bank will intervene to curb depreciation in the rupee if it falls below 42.90 levels continue to grip the market.

Sensex drops 177 points

2008-06-11T11:38:00.000-07:00

The downward trend continued in the stock markets for the third day in a row on Tuesday with the Bombay Stock Exchange sensitive index closing below the 15000-level by losing nearly 177 points as selling pressure in heavyweight stocks, mainly in banking, realty and metal sectors, showed no signs of lessening.

The 30-share Sensex of the BSE ended at 11-week low of 14889.25, a fall from Monday’s close of 15066.10. The S&P CNX Nifty of the National Stock Exchange dipped by 51.15 points to end at 4,449.80. Marketmen said the bourses saw high level of volatility throughout the day on alternate bouts of buying and selling from domestic as well as foreign investors. The Sensex tumbled to the year’s lowest level of 14645.31 in afternoon trade, raising fears that the market might even come down to touch the 12000 level shortly amid concerns about further monetary policy tightening by the Reserve Bank of India in a bid to rein in inflation. The late recovery from the day’s low was attributed to fairly heavy buying by domestic institutional investors, who were believed to be engaged in salvage operations. Asian Indices ended down by 1.13 per cent to 4.21 per cent.

Rupee declines further

The rupee is fast approaching the crucial 43 level as the unit lost nine paise at 42.96/97 against the dollar on Tuesday with demand from oil companies for dollar continuing amid inadequate supply of the U.S. currency and sluggish equity markets.

At the interbank foreign exchange market, the rupee resumed on a promising note at Rs. 42.84/86 a dollar but later came under pressure and fell to 42.97 level as oil corporates stepped up dollar purchases. — PTI

Sensex dropped again

2008-06-11T11:34:00.000-07:00

SENSEX 15185.32 296.07
NIFTY 4523.60 73.80
DJIA 12289.76 9.44
NASDAQ 2448.94 -10.52
RS/$ 42.96 -0.07

stock market updates

2008-06-11T11:28:00.000-07:00

As Dlf Looks Over Sold Position Jump of 5% is possible so one can buy for a tgt of 505-510.

Exchange rate table-today

2008-06-08T10:32:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0804
Brazilian Real	1 BRL	1,3358
Bulgarian Lev	1 BGN	1,7328
Canadian Dollar	1 CAD	2,1335
Chinese Yuan Renminbi	1 CNY	0,3138
Croatian kuna	1 HRK	0,4675
Czech Koruna	1 CZK	0,1377
Danish Krone	1 DKK	0,4543
Estonian Kroon	1 EEK	0,2166
Euro	1 EUR	3,3890
Hong Kong Dollar	1 HKD	0,2782
Hungarian Forint	100 HUF	1,3821
Iceland Krona	100 ISK	2,8568
Indonesian Rupiah	10000 IDR	2,3301
Japanese Yen	100 JPY	2,0480
Latvian Lats	1 LVL	4,8304
Lithuanian Litas	1 LTL	0,9815
Malaysian Ringgit	1 MYR	0,6673
Mexican Peso	1 MXN	0,2110
New Zealand Dollar	1 NZD	1,6652
Norwegian Krone	1 NOK	0,4274
Philippine Peso	1 PHP	0,0493
Pound Sterling	1 GBP	4,2501
Romanian Leu	1 RON	0,9300
Russian Ruble	1 RUB	0,0917
Singapore Dollar	1 SGD	1,5894
Slovak Koruna	1 SKK	0,1116
South African Rand	1 ZAR	0,2773
South Korean Won	100 KRW	0,2122
Swedish Krona	1 SEK	0,3636
Swiss Franc	1 CHF	2,0895
Thai Baht	1 THB	0,0656
Turkish Lira	1 TRY	1,7501
Ukrainian Hryvnia	1 UAH	0,4579
US Dollar	1 USD	2,1727
SDR (IMF)	1 XDR	3,5476

2008-06-08T10:25:00.000-07:00

NSE

BSE

SENSEX	15572.18	-197.54
NIFTY	4627.80	-49.15
DJIA	12209.81	-394.64
NASDAQ	2474.56	-75.38
RS/$	42.79	-0.07

Stock Market

2008-06-03T01:39:00.000-07:00

SENSEX	15895.56	-167.62
NIFTY	4691.60	-48.00
DJIA	12503.82	-134.50
NASDAQ	2491.53	-31.13
RS/$	42.24	0.53

BSE

NSE

Sensex drops 352 points

2008-06-03T01:33:00.000-07:00

Concern over imminent fuel price hike

MUMBAI: After a promising start, the stock markets witnessed a downtrend on Monday and the benchmark Sensex dropped by 352 points to close at 16063.18 on fears of an imminent hike in fuel prices.

The National Stock Exchange index Nifty also shed 130.50 points to close at 4739.60.

Aggressive selling

The markets opened strong with a gain of over 217 points and even hit the intra-day high of a high of 16632.72 but aggressive selling emerged following weak trends in European markets owing to fears of fallouts of high crude prices.

Marketmen said investors seem more concerned about the anticipated hike in fuel prices as it will have further adverse impact on inflation, which crossed the highest level in more than three-and-a-half years. Meanwhile, a decision on raising retail fuel prices was delayed further with a consensus on price hike eluding the government even as losses of state-run oil companies widened to Rs. 650 crore a day in the light of sky-high global crude prices.

European markets were trading substantially lower in their early trade while Asian indices closed with moderate to smart gains on Monday.

Realty shares hit

Analysts attributed the initial surge by 217 points to better-than-estimated GDP growth of 9 per cent in 2007-08.

Realty, PSU, metal, power and bank shares were hit hard.

Auto stocks bucked the trend on some buying support prompted by a decent rise in monthly sales.

Public sector NTPC with a loss of 6.39 per cent topped the list of index-related losers, followed by ACC at 5.23 per cent and Hindalco 5.05 per cent.

Among the gainers, Maruti Suzuki which ended 2.85 per cent higher was the star performer. Hero Honda gained 5.6 per cent and Bajaj Auto 1.52 per cent.

The market breadth was extremely negative with 2,066 losers against 600 gainers on the BSE. The trading volume was relatively low at Rs. 4,809.14 crore.

The broader BSE-100 index tumbled by 194.65 points to 8488.62 from its previous close of 8683.27. — PTI

Stock market updates

2008-05-30T11:47:00.000-07:00

Listed below are top 10 NSE Gainers.

Scrip	CMP(Rs.)	Chg%
gss america	379.35	+ 19.70
zanduphrmwrk	8132.80	+ 16.25
raymonds	265.30	+ 12.15
datamat.tech	36.80	+ 12.02
balajitelefi	208.65	+ 11.10
honeywell au	1470.35	+ 11.00
sun tv	361.30	+ 10.16
fortis healt	80.50	+ 10.04
uniphos ent	44.00	+ 10.00
ifb agroinds	78.10	+ 9.99

Exchange rates table-30 may 2008

2008-05-30T11:28:00.000-07:00

Exchange rates table
No. 105/A/NBP/2008 of 2008-05-30

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0813
Brazilian Real	1 BRL	1,3324
Bulgarian Lev	1 BGN	1,7276
Canadian Dollar	1 CAD	2,2030
Chinese Yuan Renminbi	1 CNY	0,3143
Croatian kuna	1 HRK	0,4661
Czech Koruna	1 CZK	0,1345
Danish Krone	1 DKK	0,4529
Estonian Kroon	1 EEK	0,2159
Euro	1 EUR	3,3788
Hong Kong Dollar	1 HKD	0,2796
Hungarian Forint	100 HUF	1,4030
Iceland Krona	100 ISK	2,9173
Indonesian Rupiah	10000 IDR	2,3424
Japanese Yen	100 JPY	2,0683
Latvian Lats	1 LVL	4,8207
Lithuanian Litas	1 LTL	0,9786
Malaysian Ringgit	1 MYR	0,6703
Mexican Peso	1 MXN	0,2111
New Zealand Dollar	1 NZD	1,7042
Norwegian Krone	1 NOK	0,4259
Philippine Peso	1 PHP	0,0499
Pound Sterling	1 GBP	4,3004
Romanian Leu	1 RON	0,9331
Russian Ruble	1 RUB	0,0919
Singapore Dollar	1 SGD	1,5961
Slovak Koruna	1 SKK	0,1115
South African Rand	1 ZAR	0,2875
South Korean Won	100 KRW	0,2118
Swedish Krona	1 SEK	0,3614
Swiss Franc	1 CHF	2,0767
Thai Baht	1 THB	0,0671
Turkish Lira	1 TRY	1,8011
Ukrainian Hryvnia	1 UAH	0,4580
US Dollar	1 USD	2,1824
SDR (IMF)	1 XDR	3,5272

Exchange rates table-28 may 2008

2008-05-29T02:59:00.001-07:00

Exchange rates table
No. 103/A/NBP/2008 of 2008-05-28

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0724
Brazilian Real	1 BRL	1,2968
Bulgarian Lev	1 BGN	1,7370
Canadian Dollar	1 CAD	2,1736
Chinese Yuan Renminbi	1 CNY	0,3113
Croatian kuna	1 HRK	0,4687
Czech Koruna	1 CZK	0,1350
Danish Krone	1 DKK	0,4554
Estonian Kroon	1 EEK	0,2171
Euro	1 EUR	3,3973
Hong Kong Dollar	1 HKD	0,2770
Hungarian Forint	100 HUF	1,3938
Iceland Krona	100 ISK	2,9522
Indonesian Rupiah	10000 IDR	2,3206
Japanese Yen	100 JPY	2,0733
Latvian Lats	1 LVL	4,8533
Lithuanian Litas	1 LTL	0,9839
Malaysian Ringgit	1 MYR	0,6696
Mexican Peso	1 MXN	0,2082
New Zealand Dollar	1 NZD	1,6982
Norwegian Krone	1 NOK	0,4319
Philippine Peso	1 PHP	0,0495
Pound Sterling	1 GBP	4,2787
Romanian Leu	1 RON	0,9253
Russian Ruble	1 RUB	0,0916
Singapore Dollar	1 SGD	1,5860
Slovak Koruna	1 SKK	0,1103
South African Rand	1 ZAR	0,2793
South Korean Won	100 KRW	0,2089
Swedish Krona	1 SEK	0,3638
Swiss Franc	1 CHF	2,0952
Thai Baht	1 THB	0,0669
Turkish Lira	1 TRY	1,7417
Ukrainian Hryvnia	1 UAH	0,4569
US Dollar	1 USD	2,1610
SDR (IMF)	1 XDR	3,5223

Price watch

2008-05-29T02:50:00.000-07:00

SENSEX – May 29 3:04PM
16320.89 (-204.48)

Index	Current	% Diff
BSE Sensex	16446.28	-0.48
BSE 200	2196.12	-0.96
BSE 500	7047.60	-1.11
BSE Technology	3843.34	3.73

NIFTY – May 29 3:04PM
4816.15 (-102.20)

Index	Current	% Diff
S&P CNX Nifty	4872.70	-0.93
CNX Nifty Junior	8241.10	-0.46
S&P CNX Defty	3943.90	-0.92
S&P CNX 500	3967.15	-0.61

Gainers and Losers

Top 5 BSE Gainers

Name	Current	% Diff
HARYAFIB	90.01	800.10
CKDAIKIN	79.20	20.00
GWALCHEM	87.20	15.96
ARROWCO	22.75	12.07
VADENT	82.85	10.47

Top 5 NSE Gainers

Name	Current	% Diff
GWALCHEM	87.60	17.43
SHREIND	35.50	10.94
JAYASNEC	49.70	10.08
EIHASS	184.50	8.95
NATFERT	62.00	8.87

Top 5 BSE Losers

Name	Current	% Diff
JMAIND	160.10	-19.95
INDAGRUB	71.90	-11.67
NILE	138.35	-9.99
VTMLTD	91.80	-9.11
WEIZMANN	31.70	-8.78

Top 5 NSE Losers

Name	Current	% Diff
SPICNETLTD	31.70	-8.65
TATAMOTORS	583.00	-8.27
JMTAUTO	46.55	-7.91
EICHMOT	321.75	-7.14
GUJAMBUJA	98.30	-5.62

Top Turnovers by Volume and Value

Top Turnover -> VOLUME

BSE

Name	Curr. Volume(lakhs)
IFCI	472.00
CHAMBALF	224.00
NAGARFER	165.00
AISHWARYA	112.00
ISPAT	110.00

Top Turnover -> VALUE

BSE

Name	Curr. Value(Rs/lkh)
L&T	40695.49
IFCI	30082.19
CHAMBALF	19414.46
RELICOMM	15909.88
RPOWER	12253.12

NSE

Name	Curr. Volume(lakhs)
NIFTY	5685.00
IFCI	916.00
CHAMBALF	516.00
NAGARFER	378.00
ISPAT	176.00

NSE

Name	Curr. Value(Rs/lkh)
NIFTY	27702142.28
L&T	100202.12
IFCI	57976.81
RIL	57677.73
CHAMBALF	44306.81

Stock market: Reliance Communications, Reliance Power

2008-05-29T02:45:00.000-07:00

Equities are set to open lower on Monday in line with Asian peers as rising oil prices and its impact of inflation will continue to weigh on investor sentiment. Analysts anticipate further weakness this week.

“The current range for Nifty is 4850-5080. Breakout of the band on the lower side and violation of 4720 would increase the probability of markets testing January ‘08 and March ‘08 lows,” cautions Bharat Dalal, fund manager at Dawnay Day AV Financial Services.

South Africa’s MTN and Anil Ambani owned Reliance Communications may shortly announce that they are in exploratory talks for an alliance. According to banking sources, discussions between the two began last week. MTN has offered RCOM a structure similar to the one that Bharti turned down.

In another development, Reliance Communications is close to take over London based global virtual network operator VANCO. The bids for the buyout were made on Friday.

Petrol, a fuel used primarily by urban consumers could soon be selling at market prices. This would mean an increase of Rs 10-16 per litre at current prices. Officials told ET that a proposal to sell petrol at market prices, while keeping diesel, cooking gas and kerosene at subsidised rates was under consideration.

Mid-size technology services and IT engineering company firm Rolta is learnt to be close to acquiring a US based IT firm in the area of business intelligence. The firm has been searching for an asset that will add to its skills on the IT side and complement its core strengths in geographic information systems and engineering.

Reliance Power which was awarded the Sasan ultra mega power project has advanced the date of commissioning of the UMPP by three years while Tata Power has advances dates for commissioning of Mundra UMPP by 17 months. This has been done on insistence of Centre which is struggling to achieve the targeted capacity addition of 78,500 mega watt in the 11th plan.

Reliance Power is also planning to bid for PowerSeraya and Senoko Power, which account for more than 60 per cent of the power produced in Singapore. GMR Infrastructure is also in the fray, reports Business Standard.

Housing Development and Infrastructure is diversifying into the oil and gas sector. The company will bid for 10 of the 57 hydrocarbon blocks on offer in the seventh round of the New Exploration Licensing Policy, reports DNA Money.

Initial public offering of Niraj Cement Structurals will open for subscription Monday. The price band of the issue is fixed between Rs 175-190. Issue closes May 30.

Stocks to watch

2008-05-29T02:44:00.000-07:00

Equities are seen higher on Tuesday tracking a rebound in Asian peers as bargain hunters scoured the market after five days of losses. However, rising inflation and high oil prices will keep investors uncertain about the outlook.

Shares of oil marketing companies could find comfort in the government’s dual strategy of fuel price hikes and duty cuts. So, even if the retail petrol and diesel prices are increased, a duty cut would make the net increase marginal. Petroleum Minister Murli Deora is schedule to meet Finance Minister P Chidambaram later today on this issue, having already deliberated on it with Prime Minister’s Economic Advisory Committee Chairman C Rangarajan, reports The Economic Times. Crude oil was up at $133/barrel following supply concerns.

The dollar continued to trade firm at 42.85 up 0.10 paise against the rupee on Tuesday. The rupee ended at 42.73/74 per dollar on Monday. This will help IT stocks to inch upwards.

Warburg Pincus-controlled WNS holdings is working on an out-right acquisition firm Firstsource Solutions, in which ICICI Bank holds 26.8 per cent stake. WNS is looking to buy out ICICI Bank’s stake and mop up shares held by some other private equity investors. The scrip ended or 2.75 lower at Rs 40.7 on the BSE.

The proposed deal between Reliance Communication and MTN may involve open offer by the South African telco to the shareholders of RCOM. The broad contours of the deal, on which both parties began exclusive talks on Monday, may result in a transfer of Anil-Ambani’s two-third equity stake in RCOM to MTN shareholders, against his acquisition of around one-third equity in the foreign company. Shares of Reliance Communications ended 5.08 per cent lower at Rs 543.20.

Tata Consultancy Services has won a $100 million five-year contract with NXP Semiconductors. The $6.3-billion Netherland-based company, founded by Philips, is among the top 10 semiconductor companies.

Kirloskar Electric has mounted a bid to acquire Germany’s Lloyd Dynamowerke based on an estimated enterprise valuation of around $100 million. The share ended 5.45 per cent lower at Rs 183.10.

Omaxe is entering into power generation by forming a joint venture with Isolux, a Spanish firm, reports DNA Money. The company plans to set up a 150 mw unit at Ennore near Chennai. The company is expected to hold 51 per cent stake in the joint venture, with Isolux holding the rest.

HTMT Global will be taking over a mortgage-specific company in the UK soon, reports DNA Money. The company is expected to invest over $150 million for this foray into Europe.

Results today: Bajaj Electricals, Deepak Nitrite, Emco, Jindal Steel & Power, Neyveli Lignite, Opto Circuits and Tata Coffee

Stocks to buy

2008-05-29T02:41:00.000-07:00

Analyses of selected stocks by broking firms

AKRUTI CITY

Broking firm: Prabhudas Lilladher

Price at the time of recommendation: Rs 1,079

Target price: Rs 1,500

Rationale: Project execution is on track. Akruti City has a product portfolio of 39 projects and a development potential of 45.5 mn sq feet of which 20.46 mn sq feet is Akruti’s share of development. Apart from this the company is developing two Township projects and the Baroda Biotech park. Together the two township projects at Panvel and Uran should be able to generate a developable area of 116 mn sq feet and the Baroda Biotech Park should generate a developable area of 20.6 mn sq feet out of which Akruti’s share is 13.8 mn sq feet.

The management is confident of executing development of the 20.5 mn sq feet without much funding constraint. However, has indicated that they are looking at raising additional funds either at the entity level or at the SPV level to fund land acquisition of the two township projects. The management does not see much pressure on prices for projects that they plan to develop in the medium term since projects are in specific prime locations and are targeted at a focused market. Hence execution so far is on track. Based on expected development schedule for various projects being developed by the company we arrive at a NAV value Rs 100 bn which works out to a per share value of Rs 1500. We maintain Outperformer rating on the stock.

Closing price on Friday, May 23, 2008: Rs 999

BALAJI TELEFILMS

Broking firm: Angel

Price at the time of recommendation: Rs 181

Target price: Rs 275

Rationale: Balaji Telefilms started to witness better times from the December quarter (3QFY2008) with the commencement of three new programmes, two on the newly launched 9X channel and one on Sony, thus re-initiating its relationship with the latter. The company is also scheduled to launch the mythological, Mahabharatha, on 9X. Also in the pipeline are two Reality shows, one on 9X called Kaun Jeetega Bollywood Ka Ticket and the other one on Sony. Overall, with these programmes getting launched, the company would be diversifying its revenue stream to some extent and reduce its dependence on Star.

Also, a slew of general entertainment channels are expected to be launched soon, which would open up further opportunities for Balaji to provide prime time content. Further, the company’s joint venture with Star, though delayed, could spawn 3-4 channels over the next few quarters in South Indian languages, which would augur well for Balaji’s content supply business. However, we have not assumed any contribution from this JV in our projections. The company has also ventured into movie production, co-production and distribution to widen its revenue stream and reduce risks. Balaji Motion Pictures, a wholly-owned subsidiary , released three movies during the year, of which two (Shootout at Lokhandwala and Bhool Bhulaiya) had a decent run. For FY2009, the company has four new film projects in the offing including the much-awaited Sarkar Raj.

While this film will be distributed by Balaji Motion Pictures, the other films (EMI, CKkompany and Mission Istanbul) are being coproduced by it. For FY2008, the Motion Pictures Division reported a Topline of Rs36.5cr and Net Profit of Rs5.5cr. We have not factored in any profit/losses that may arise from this business segment.

On the realisations front, Balaji faced pressure on commissioned realizations during the quarter. But while we do not expect it to command premium realisations in the wake of stabilised TRPs of its programmes, we believe it would have a marginal upper hand when its contract with Star comes up for re-negotiation in June 2008. This is because Star Plus continues to derive a substantial chunk of its TRPs from Balaji serials. Also, with new GECs likely to get launched, Balaji Telefilms seems to be in a comfortable position.

At current levels of Rs181, the stock trades at 9.8x FY2010E EPS. Balaji continues to be amongst the most preferred content providers for a general entertainment channel. We remain confident of its growth prospects going forward. Nonetheless, the biggest risk to our assumptions is any of the company’s key programmes going off-air without an equally strong substitution. We maintain a Buy on the stock, with a marginally reduced Target Price of Rs275 (Rs285) factoring in a 3% reduction in our FY2010E EPS.

Closing price on Friday, May 23, 2008: Rs 181

Exchange rates table,23 may 2008

2008-05-23T13:43:00.000-07:00

Currency	Symbol	Mid-rate
Australian Dollar	1 AUD	2,0812
Brazilian Real	1 BRL	1,3079
Bulgarian Lev	1 BGN	1,7432
Canadian Dollar	1 CAD	2,1952
Chinese Yuan Renminbi	1 CNY	0,3122
Croatian kuna	1 HRK	0,4703
Czech Koruna	1 CZK	0,1359
Danish Krone	1 DKK	0,4570
Estonian Kroon	1 EEK	0,2179
Euro	1 EUR	3,4095
Hong Kong Dollar	1 HKD	0,2778
Hungarian Forint	100 HUF	1,3899
Iceland Krona	100 ISK	2,9937
Indonesian Rupiah	10000 IDR	2,3256
Japanese Yen	100 JPY	2,0879
Latvian Lats	1 LVL	4,8791
Lithuanian Litas	1 LTL	0,9874
Malaysian Ringgit	1 MYR	0,6760
Mexican Peso	1 MXN	0,2090
New Zealand Dollar	1 NZD	1,6986
Norwegian Krone	1 NOK	0,4308
Philippine Peso	1 PHP	0,0498
Pound Sterling	1 GBP	4,2852
Romanian Leu	1 RON	0,9273
Russian Ruble	1 RUB	0,0919
Singapore Dollar	1 SGD	1,5947
Slovak Koruna	1 SKK	0,1096
South African Rand	1 ZAR	0,2828
South Korean Won	100 KRW	0,2069
Swedish Krona	1 SEK	0,3666
Swiss Franc	1 CHF	2,1069
Thai Baht	1 THB	0,0682
Turkish Lira	1 TRY	1,7392
Ukrainian Hryvnia	1 UAH	0,4568
US Dollar	1 USD	2,1675
SDR (IMF)	1 XDR	3,5372

Stocks to watch on Wednesday

2008-05-23T13:42:00.001-07:00

Equities are likely to extend Tuesday’s losses tracking declines in overseas markets. Market sentiment turned jittery after crude prices hit yet another record high.

Oil hovered just above $129 on Wednesday, within striking distance of the previous session's record high as OPEC again said it would not raise supply while demand rages on and a weaker dollar supports funds buying.

There are concerns on inflation front also as RBI governor Yaga Venugopal Reddy on Tuesday said that inflation rate, which is at its highest in three-and-a-half years, is totally unacceptable and the official data underestimates the actual rate of inflation.

In a blow to Reliance Industries’ exploration story, the government has confiscated the company’s five blocks in the Kerala-Konkan basin after it failed to meet the minimum work programme. Of the five blocks, one lies in offshore shallow water and four in deepwater. RIL held seven blocks in the basin. The director general of hydrocarbons (DGH) has written to RIL that the blocks stand “relinquished” and it should immediately submit the data on them. Shares of Reliance Industries closed at Rs 2,602, down 1.26 per cent on the BSE.

In another development on SEZ front, Business Standard reported that 10,000-hectare Mumbai Special Economic Zone project, being set up by Reliance Industries Chairman Mukesh Ambani and his associate Anand Jain on the outskirts of Navi Mumbai, appears to take off with the Maharashtra government clearing the developer's rehabilitation and resettlement package.

Rising cost of raw materials had hit ACC in the fiscal’s first quarter, but the second quarter profitability for the company, could also see a fall, a senior company executive said on Tuesday. “It is quite clear that margins in Q2 (second quarter) will be under further pressure,” managing director Sumit Banerjee said at a conference. Shares of ACC closed 682.45, up 0.35 per cent on the BSE.

Aiming to grow its castings business, Mahindra &Mahindra is learnt to be close to buying out partner Hitachi Metals’ stake in Mahindra Hinoday, a manufacturer of components for automotive, electronics, telecom and other sectors. M&M holds 66 percent in the Pune-based joint venture while Hitachi Metals owns the remaining 34 per cent stake. M&M bought the stake in 2005 from DG Piramal, in what was then DGP Hinoday. Shares of Mahindra &Mahindra closed 1.44 per cent lower at Rs 652.65 on the BSE.

Orbit Corporation is close to acquiring Orkay Mills, located at Andheri-Kurla road near Saki Naka for over Rs 150 crore. Orkay Mills is a four lakh square feet property which Orbit plans to develop into a commercial complex. The stock gained 4.66 per cent to close at Rs 522.95 on the BSE.

Ranklin Solutions will acquire 51 per cent in BPO/ITES company Logic Bytes for a total consideration of Rs 91.80 lakh. Shares of Ranklin Solutions closed at Rs 149.40, up 9.81 per cent on the BSE.

Tata Tea is eyeing to acquire Turkish tea-maker Dogus Cay, reports DNA Money. The report quoted Dogus Cay chairman Suleyman Karakan saying that talks were on for a possible partnership with Tata Tea. The stock closed at Rs 922.15, down 2.64 per cent on the BSE.

Key Results Today: Alfa Transformers, Bajaj Auto Finance, Gabriel, Gammon Infra, HDIL and Thermax.

What are the stocks we can buy

2008-05-23T13:38:00.000-07:00

MUMBAI: Prabhudas Lilladher has maintained ‘buy’ on Reliance Communications for a target price of Rs 706, an upside of 26.2 per cent from current level. RCom has guided for a potential market size of $ 275 billion for its global assets, which will be offering a diverse portfolio of global communication business services, including global voice, managed network, carrier ethernet and fibre capacity businesses. Total investments in Reliance Globalcom stands at $ 2.75 billion at the end of 2007-08.

Reliance Infratel aims to increase its tower portfolio to 70,000, thus enabling it to have 280,000 slots by 2009-10. The company has hinted at using around
110,000-120,000 slots for captive use. Further, the company is in active talks with two new entrants for pan-India tower portfolio.

Rcom has outlined to spread its GSM network to cover 90 per cent of the population by 2009. This will be the fastest rollout of GSM network in India. It has already signed conclusive arrangements of $ 1.3 billion for electronic equipment with vendors, including Huawei, ZTE and Alcatel Lucent. The company management has hinted at net additions to pick-up in subsequent months due to increase in its coverage of existing eight GSM circles.

With favourable regulatory developments in the last couple of quarters, Prabhudas believes Rcom is in a sweet spot. At the market price of Rs 559, the stock trades at a PER of 14.2x and at an EV/EBITDA of 9.8x FY10E earnings. Unlocking value in Reliance Globalcom and Reliance Infratel could be key catalysts in the next 6-12 months, says Prabhudas.

Sun TV

Prabhudas has maintained ‘market performer’ on the stock for a target price of Rs 367, an upside of 9 per cent from current level. Sun TV is expected to maintain 18 per cent CAGR in revenue over FY07-10E, which will be largely driven by annual advertisement rate hikes and increasing subscription revenue from addressable platforms such as DTH.

Operating margin is likely to expand by 300 basis points on the back of improving synergies post amalgamation and increase in DTH-related revenue. Earnings as a result, are likely to grow at 24 per cent CAGR FY07-10E.

Sun TV, along with its subsidiaries – Kal Radio and S FM, has been allotted licences for setting up 45 radio stations across India, for which it has paid licence fee of Rs 180 crore. During 2007-08, the company also acquired minority stake (48%) in Red FM, which operates three stations. With 37 operational stations at the end of FY08E, the company’s rollout plans are on track.

With competition heating up in the regional broadcasting space, Sun TV’s channels are expected to face the heat. However, the management seems confident, despite increasing competition, of sustaining their leadership position in all four states.

The stock is trading at 33.2x and 27.9x FY09E and FY10E respectively. Prabhudas has turned over their PER from FY09E to FY10E, at Rs 362 for its broadcasting operations and Rs 4.6 for its radio operations, valuing it at 1x investment value of Rs 180 crore.
Anant Raj Industries

Prabhudas has maintained ‘outperformer’ on the stock for a target price of Rs 282, an upside of 16.2 per cent from current level. Anant Raj is an NCR-based real estate company having a land bank of 982 acres, translating into approximately 70 million square feet of developable area.

The company believes in being location specific, however, it is diversified across varied commercial segments like IT, SEZ, hospitality and retail, as well as residential development.

The company has a strong pipeline of projects and is currently working on two retail projects, two hospitality projects and one IT Park. Besides, it is also working on an SEZ project, which is likely to be completed by December 2009. It is also likely to embark on two residential projects and a few hospitality projects.

The company has adopted the rental model, largely for its commercial projects, which comprises 75 per cent of its land bank. The other 25 per cent is residential projects, which are on an outright sale model.

Based on projects that are nearing completion, the company is likely to
earn a strong flow of rental income of Rs one crore per day starting August 2008, which it targets to increase to Rs two crore per day by 2008-09 and Rs four crore per day by 2009-10.

Prabhudas expects strong growth of 52.9 per cent and 111.5 per cent in the company’s revenue over 2008-09 and 2009-10. The corresponding growth in
profit after tax is likely to be 44.7 per cent and 95 per cent respectively. The brokerage working of the company’s NAV stands at Rs 332. The target price is based on a 15 per cent discount to NAV on account of the decline in peer group valuations.

Wipro

Prabhudas has maintained ‘marketperformer’ on the stock for a target price of Rs 512 (16x FY10E earnings). The management has maintained that it is not witnessing any pricing pressure yet, with new contracts commanding 3-5 per cent increase in billing rates. However, over the last few quarters, the increase in billing rates for Wipro has been one of the lowest as compared to its peers.

Wipro has indicated no loss of momentum in deal pipeline. While the past few months had witnessed decision paralysis with no decisions being taken by clients, the management indicates that the momentum appears to be building up.

BFSI contributes around 25 per cent to Wipro’s topline. The company believes that the segment will grow at the company average growth rate. The segment has grown at a CQGR of 10.1 per cent and 8.2 per cent over the last four and eight quarters respectively.

Consumer segment has grown at a CAGR of around 55 per cent over the last four years. The consumer division has done well clocking growth well above industry averages. Santoor brand has been recognised as India’s No. 3 toilet soap brand by value.

Prabhudas expects Wipro to report revenue of Rs 25,280 crore for 2008-09 and Rs 31,160 crore for 2009-10, implying a year on year growth of 28.1 per cent and 23.3 per cent respectively. Prabhudas expects its EBIT margin to be stable at 16.1 per cent and 16.2 per cent respectively over the same period. Earnings over the same period are expected to grow by 16.7 per cent and 24 per cent to Rs 25.8 and Rs 32.

At the market price of Rs 501, the stock trades at 19.4x FY09E and 15.6x FY10E earnings, respectively.

Sensex slides as fears of more RBI action rise

2008-05-23T13:35:00.000-07:00

MUMBAI: Equity benchmarks fell 1.5% on Friday, as persistent inflationary pressures, coupled with rising oil prices, heightened fears of further monetary tightening by RBI. Analysts fear that further moves to absorb money supply from the banking system would delay reversal in the interest rate cycle and weigh down economic growth.

The BSE Sensex fell 257.47 points or 1.52% to close at 16,649.64. NSE Nifty fell 78.9 points or 1.57% to close at 4,946.55. Mid and small-cap shares, which have outperformed their frontline counterparts in recent sessions, also succumbed to the bear onslaught on Friday, with losers outnumbering gainers 1924:795 on the BSE. Optimists are concerned about Nifty breaching a key support level of 4,950 on Friday. Technical analysts feel that if the index closes below this level for a few more sessions, there could be further downside.

Weak European markets added to the discomfort of the bulls in India. Elsewhere in Asia, all markets, with exception to Japan, ended roughly 1% lower after a flat opening. US equity market futures too were trading lower few hours before the opening of the markets there.

Back home, sustained rise in crude prices is expected to force the government hike the administered auto fuel prices. Any such move is likely to drive inflation higher, with some analysts estimating double digit inflation over the next couple of months.

“In spite of weakening domestic macro fundamentals, inflation continues to rise, money supply growth remains above RBI’s target level and liquidity overhang shows no signs of abating. With CRR (cash reserve ratio or the amount banks need to keep with the RBI in cash) becoming the instrument of choice for RBI, further hikes in CRR cannot be ruled out in our view, though we expect no action on policy rates,” brokerage India Infoline in a recent client note.

Inflation data for the week ended May 10 stood in line with market expectation at 7.82% as compared to 7.83% for the week earlier.

But, optimists have not given up hope. “We don’t see significant downside to the markets from these levels. As our strategy, we have started deploying some cash in the markets. Going forward, investors will have lot of opportunities to invest as there is also a healthy pipeline of IPO,” says Kotak Securities senior VP and head-PMS Kunj Bansal.

As per the provisional data, foreign institutional investors (FIIs) have been net sellers of Rs 654 crore, even as domestic institutional investors (DIIs) absorbed the selling by buying into Rs 750 crore on Friday.
Combined turnover in the cash and derivatives segment on both the stock exchanges stood at approximately Rs 60,000 crore, lower than previous day’s about Rs 65,000 crore. The turnover was lower as investors stayed away from taking new positions due to last session of the week.

Fuel price hike a matter of time

2008-05-23T13:17:00.000-07:00

NEW DELHI: Consumers need to brace themselves for a hike in petrol and diesel prices over the next few weeks. The government is exploring a combination of measures including duty rejig, higher subsidies and raising fuel prices.

“A price hike is inevitable,” petroleum secretary MS Srinivasan said without elaborating on products and quantum of the hike. The petroleum ministry also wants cut in customs duty on crude oil and products, besides reducing excise duty on petrol and diesel, a move that may not be easily acceptable to the finance ministry.

Oil company scrips reacted positively to the possibility of a price hike which would bring down their losses. Market leader IOC’s scrip rose 3.2% to Rs 420.05, HPCL advanced 3.5% to Rs 242.65, while BPCL gained 3.6% to Rs 359.20. Global crude prices softened and was ruling at $130 a barrel on Friday.

Hectic parleys were on till late Friday evening to work on a possible solution to the oil crisis. Prime Minister Manmohan Singh met petroleum minister Murli Deora on Friday morning to take stock of the situation. A high-level meeting led by PM’s principal secretary, TKA Nair, finance secretary D Subbarao, petroleum secretary and CEOs of the three oil PSUs, took place on Friday evening to deliberate on the possible options before the government.

According to government sources, the meeting failed to reach a consensus on either the price hike or duty rejig proposal. A hike of Rs 4 per litre in petrol and Rs 2 per litre in diesel is one of the proposals doing the rounds. However, ET could not get an official confirmation on this.

Government officials said that the decision on a price hike will have to be taken at the highest (Cabinet) political level and this may take a while. “This was only the first round of meeting. Oil companies are bleeding and the government will have to act fast,” he said.

Officials of oil companies said that the total oil subsidy bill has to be limited to Rs 70,000 crore at the maximum. Although, it’s a matter of time before the government bites the price-hike bullet, political realities like poll results of Karnataka and the continued rise in inflation rates would play a role in the timing of the decision.

It is estimated that under the prevailing situation under-recoveries of three PSUs may touch Rs 180,000 crore in 2008-09 compared with Rs 77,303 crore in 2007-08.

The government swung into action after oil marketing companies pressed the panic button. “A bailout package is a must in a couple of days. Two of the navratnas — BPCL and HPCL — have informed that they would turn red in the current fiscal if the prevailing condition continues,” an official in the petroleum ministry told ET.

Crude import bills of refining companies have skyrocketed, with Indian crude basket touching $130/barrel. The government is forcing them to suffer losses by holding the price line. It is learnt that companies are losing Rs 600 crore a day on fuel sales.

Oil companies, who are bearing the brunt, however, feel that retail prices should be released by a minimum of Rs 5 a litre to keep losses under check.

stock market update

2008-05-22T10:25:00.000-07:00

Across-the-board selling dragged the market by over 1.95% as indices followed the weak international markets and overlooked the strong quarterly numbers from heavyweights, Cummins, Bajaj Holding, Balaji Telefims and Moser Baer. The market never recovered after resuming 138 points lower at 17105 and the sentiment turned extremely bearish as the trading progressed. Followed by a sharp fall in heavyweights, correction in bank, realty, CG, power and auto stocks dragged the index below the 16900 mark in noon trades to touch the day's low of 16863, down 380 points from yesterday's close of 17243. Finally, the Sensex tumbled by 336 points at 16907 while the Nifty dropped 92 points to close at 5025.

All the sectoral indices took heavy hammering. The BSE Bankex led the slump and dropped 3.06% at 8,376 followed by the BSE Reality index (down 2.68% at 7,693), the BSE CG index (down 2.40% at 13,342), the BSE Power index (down 2.12% at 3,233) and the BSE Auto index (down 2.05% at 4,685).

The market breadth was extremely weak. Of the 2,791 stocks traded on the BSE 1,684 stocks declined, 1,040 stocks advanced and 67 stocks ended unchanged. While only one Sensex stock advanced, 29 declined today. Among the major losers, Tata Motors slumped 3.98% at Rs661.45, Reliance Infra shed 3.97% at Rs1,322.95, ICICI Bank declined 3.39% at Rs880.40, SBI lost 3.28% at Rs1,607, Reliance Communication shed 3.16% at Rs584.65, Jaiprakash Associates fell 2.65% at Rs246.10, Ambuja Cement slipped by 2.61% at Rs104.30, Larsen & Toubro plunged 2.57% at Rs2,916.80 and HDFC Bank tumbled 2.40% at Rs1,379.90. Other blue chips also fell around 1-2% each. Among the gainers only Hindalco Industries added 0.20% at Rs197.65.

Among the bank stocks, Indian Overseas tanked 4.82% at Rs138.25, Axis Bank slumped 4.73% at Rs828.40, Yes Bank dropped 4.52% at Rs161.45, PNB shed 3.70% at Rs537.60 and Kotak Bank was down 3.12% at Rs714.85.

Ispat Industries was the most actively traded counter with volumes of over 4.32 crore shares traded on the BSE followed by IFCI (3.13 crore shares), Nagarjuna Fertilizers (1.11 crore shares), RNRL (1.09 crore shares) and Cybermate (0.99 crore shares).

Value-wise Reliance Capital clocked a turnover of Rs225 crore followed by IFCI (Rs201 crore), Cairn India (Rs189 crore), R Power (Rs180 crore) and Reliance Industries (Rs176 crore).

Element of Risk

2008-05-21T09:24:00.001-07:00

Ashok Kanetkar is a retired executive with senior-level experience at several companies, most recently Cummins India. Apart from his experience of the corporate sector as well as the engineering industry - he is an articulate and dedicated student of Graham, Buffet and other investment gurus.

Life is a series of events, some predictable, some unpredictable. Those that are unpredictable but turn out to the advantage of the individual are called 'pleasant surprises' while those, which turn out to be otherwise, is termed 'rude shocks'.

No one likes rude shocks and therefore there is a constant endeavor to shore up all defenses against them and this tendency gets accentuated as age advances. In matters related to investment this desire to seek protection against shocks is quite pronounced and investors spend considerable time and mental energy in analysing the risks involved in putting money in a particular area.

Further, in the field of investment, general perception is that investment in shares is riskier than investment in good fixed income bonds and deposits. Without going into comparison between the two it is necessary to take a look at the risks related to common stocks.

The first justifiable concern in relation to any investment is the security of the principal amount itself. The question, 'Is my money safe and will it be returned to me as per the promise given?' is uppermost in investor's mind.

The second concern is related to the return on investment. An investor needs an assurance that whatever is promised, will be delivered. In the case of shares the answer on both the counts is slightly complex. Correct evaluation of the risks involved in a particular share, therefore, becomes a little complicated exercise than what would be for a simple fixed deposit in a bank.

Let's look at the concern about the capital as perceived in relation to securities. Many people feel that decline in value is a major risk involved in this type of investment. Yet, since there is also a possibility that the value may increase we have to call investment in shares both safe as well as unsafe.

A lot depends on the initial evaluation of the company whose shares are purchased. If shares of good companies with standing in the market and those, which have survived for number of years, are purchased then generally there is no reason to worry about the capital. Yet many people buy shares without paying any attention to this aspect.

Investment is made more out of false grandiose promises on part of the management or on the recommendation of a broker or a friend without really taking a hard look at the company management, its financial resources and the product line. In such a case if the capital is lost it should really be attributed to foolishness on part of the investor and not to any undue risk.

Even with good purchases a decline can occur. If this decline is of temporary nature it need not worry the investor unless for some reason he is forced to sell his holding. So if we apply the concept of risk solely to the loss of value then we must agree that such a loss may occur through actual forced sale at a lower value, or caused by a significant deterioration in company's position or more frequently, as a result of paying more than the intrinsic value of the share.

Enough signs about deteriorating performance of the company are available to an alert investor so that he can cut his losses. If he fails to read them or if he miscalculates about the nature of decline then there is a possibility of a loss and to that extent we must agree that investment in securities is a risky affair.

A deposit in bank or bonds will have to be termed unsafe if the interest payment is withheld for some reason or principal amount is held back. Similarly a reduction or passing of a dividend in the case of a company share should also make that investment unsafe. For an intelligent investor signs of a poor performance are apparent if he is alert and watches the quarterly results. Thus if he senses that the dividend yield is likely to fall below his expectations he can exercise the exit route.

However if at that time if the market price is less than what he initially paid for the purchase then a loss will occur. If the investor reads the drop in dividend yield as a passing phase then he may continue to remain the owner of the securities. To arrive at a decision for sale an investor may look at average dividend yield over a number of years. Generally matters even out over a five-year period.

Frauds and scams, which have a habit of occurring from time to time, need not be considered specifically in relation to securities because they can occur in any area jeopardising the interests of the investor. Though share market scams get much greater publicity, a serious intelligent investor need not give too much importance to possible frauds because he is neither a speculator nor a short time investor.

Fluctuations in the market on account of scams are really not due to poor performance of the company and they mostly result in decline of value, which has been discussed earlier. A clever investor should really be taking advantage of them if he is confident about the performance of the company and if his reading of the economic conditions is sound. If the value of his holdings goes up beyond reasonable limits he should sell and book profits, and if it falls below he should buy some more of the goodies.

Benjamin Graham categorises investor into two types; a defensive investor and the aggressive investor. For the defensive investor he has made some valuable suggestions for purchasing of shares in his book 'The intelligent investor'. These take into account the elements of risk discussed above. These suggestions are:

(1) There should be adequate though not excessive diversification.

Do not concentrate your purchases in one or two industrial sectors. Economic cycles affect different industrial differently. Automobile industry may be facing a slump but housing loan industry may be enjoying a good progress. Diversity in holdings helps even out the matters.

(2) Each company selected should be large, prominent and conservatively
financed.

The statement contains adjectives and as Graham says "a criterion based on adjectives is always ambiguous." Yet, all these adjectives convey a notion. According to Graham an industrial company's finances are not conservative unless the common stock (share capital plus reserves) represents at least half of the total capitalisation. 'Large' and 'prominent' carry the notion of substantial size and a leading position in the industry.

(3) Each company should have a long record of continuous dividend payments.

In Indian context this would mean a continuous record of dividend payment of at least twenty years.

(4) An investor should impose some limit on the price he will pay for issues in
relation to its average earnings over say the past seven years.

This is related to the p/e ratio. Every investor has to form his own standards here. Within the standard an investor laying emphasis on dividend yield will strive for a lower p/e than one looking for value appreciation. Also for a defensive investor, the limit is bound to be low whereby many growth stocks may get eliminated, which generally trade at high multiples.

Growth stocks, though they are capable of giving spectacular profits to investors, are quite capable of causing a decline in value if too high a price is paid for the purchase. Defensive investors should be careful before venturing into these stocks with high P/E ratios. The doors are not closed to them but they should tread wearily.

Despite every thing, there is lot of excitement in investment in shares. Companies make profits, other investors notice what you noticed long ago and the share price goes up, or your company appears in newspapers and experts offer praises for the performance and you feel proud of yourself for having taken the decision to buy etc. etc.

The biggest thrill about shares is the possibility of a windfall, which no other investment can offer. Balzac, the French author, once said, " Behind very fortune there is a crime". An intelligent investor can overlook this statement because he can make a fortune in the share market and still remain completely above the law!

Learn Trading

2008-05-21T09:22:00.001-07:00

Chapter 2: Stock Markets
Review of books that reveal the secrets of stock markets

Article 1: Manias, Panics and Crashes | Jun 13 2001
A must read for everybody in the stock market. This Kindleberger's classic lays the boom bust c...

Article 2: Where are the customers' yachts? | Aug 20 2001
Fred Schwed Jr's book with this zany title examines if the rules on Wall Street have really cha...

Learn Trading

2008-05-21T09:20:00.001-07:00

Chapter 1: Investing
Review of books that teach the fine art of investing

Article 1: The Art of Speculation | Aug 16 2001
A review of Philip Carret’s book that is a gospel for speculators and investors alike.

Article 2: Graham and value investing | Apr 26 2001
Janet Lowe's book makes a good attempt to encapsulate Ben Graham's investing philosophy.

Article 3: ignore | May 3 2001
Fred Schwed Jr's book with this zany title examines if the rules on Wall Street have really cha...

Article 4: An unreasonable man | Aug 7 2001
A look at Warren Buffet's investment philosophy based on 'The Warren Buffet Way' by Robert G Ha...

Article 5: Uncovering stock market profits | Jul 6 2001
Joel Greenblatt's best selling book "You can be a stock market genius" attempts to inspire us e...

Article 6: ignore | Jul 9 2001
In the minds of most investors short sellers are next only to Satan worshippers. Once you read ...

Article 7: Sold Short | Jul 9 2001
In the minds of most investors short sellers are next only to Satan worshippers. Once you read ...

Article 8: "A Random Walk..." | Jul 24 2001
Described as the “Dr Spock of investment”, this book is a guide for individual inve...

Sensex drops 205 points

2008-05-21T09:12:00.001-07:00

The market held firm above the 17,100 levels for almost entire session as positive US and strong Asian markets created a perfect platform for the bulls to pursue buying. The Sensex resumed 107 points higher at 17,085 and advanced further on substantial buying support. While the gains continued unabated, buying spree in heavyweights, capital goods, realty, oil & gas, banking and power stocks propelled the index to an intra-day high of 17,366 in noon trades. The Sensex finally wrapped up the session with gains of 375 points at 17,353, while the Nifty ended at 5,115, up 104 points.

The market breadth was positive, with gainers outpacing losers by 1.40:1. Of the 2,754 stocks traded on the BSE 1,771 stocks advanced, 909 stocks declined and 74 stocks ended unchanged. All the sectoral indices, barring BSE FMCG index, ended positive. BSE CG index was the major gainer and soared 3.46% followed by the BSE Realty index (up 3.41%), BSE oil & gas index (up 2.65%), BSE Bankex index (up 2.44%) and BSE Power index (up 2.12%).

Front-line stocks once again led the rally. Hindalco was the front-runner amongst the heavyweights and vaulted 6.11% at Rs204.05. Among other major gainers, Reliance Communications rose by 5.31% at Rs589, L&T surged 4.67% at Rs2,962, Reliance Industries advanced 3.66% at Rs2,622.65, ICICI Bank scaled up 3.62% at Rs928.70, Infosys flared up 3.56% at Rs1,891.30 and DLF jumped 3.36% at Rs643.85. Maruti, BHEL, Gujarat Ambuja Cements, HDFC and JP Associates gained over 2% each. Satyam Computer Services however lost ground and tumbled 3.43% at Rs483.90, while Hindustan Unilever lost 1.85% at Rs238.60.

Capital goods stocks witnessed strong buying support. Crompton Greaves rallied sharply by 8.13% at Rs245.30, Kalpataru Power Transmissions vaulted 5.04% at Rs1,034.10, Kirloskar Brothers surged 4.20% at Rs250.30 and Areva scaled up 3.65% at Rs1,605.55. Alstom Projects, Suzlon Energy, Havells India and Punj LLoyd added over 2-3% each. Among the gainers in realty stocks, Phoenix Mill, Omaxe, HDFC, Parsvnath Developers, Akruti City, Unitech, DLF and Indiabulls Real Estate flared up 2-5% each.

Over 7.04 crore Aishwarya Telecom shares changed hands on the BSE followed by IFCI (2.18 crore shares), Ispat Industries (1.08 crore shares), Cyber Mate (1.08 crore shares) and Reliance Natural Resources (1.02 crore shares).

Valuewise, Aishwarya Telecom registered a turnover of Rs866 crore followed by Reliance Communications (Rs258 crore), Reliance Industries (Rs179 crore), Reliance Petroleum (Rs163 crore) and Satyam Computer Services (Rs158 crore).

Volatile market ends buoyant

2008-05-21T09:10:00.000-07:00

The market wiped out losses of over 150 points incurred in the first half, after a strong bout of buying in Tisco, Mahindra & Mahindra and Reliance Industries triggered wide-spread buying in the market. It was a highly volatile trading session, with the Sensex opening 164 points lower at 17066 following weakness in Asian indices and crashing to the day's low of 17042 on relentless selling. The market was on a recovery path thereafter--the Sensex witnessed a sharp turnaround in the afternoon as gains in heavyweights, oil & gas, metal and public sector stocks propelled the index to an intra-day high of 17293. After gyrating 250 points during intra-day trades, the Sensex closed up 13 points at 17243. The Nifty also ended 13 points higher at 5118.

The market breadth ended in positive. Of the 2,795 stocks traded on the BSE 1,710 stocks advanced, 1,009 stocks declined and 76 stocks ended unchanged. Among the sectoral indices, the BSE Oil & Gas index led the pack and gained 2.36% at 11,433 followed by the BSE Metal index (up 1.24% at 17,390) and the BSE PSU index (up 0.98% at 7,727). The CG index, auto index and realty index ended with steady gains. The rest of the sectoral indices ended in negative territory.

Tata Steel was the star performer amongst the heavyweights and the stock soared 3.09% at Rs922.25. Among the other major gainers, Mahindra & Mahindra advanced 2.66% at Rs670, Reliance Industries jumped 2.53% at Rs2,667.90, BHEL rose 2.03% at Rs1,771.70, Grasim moved up by 1.57% at Rs2,323.10, Tata Motors advanced 1.55% at Rs688.85 and TCS added 1.18% at Rs963.95. However, HDFC Bank, HDFC and HUL inched lower.

Oil stocks were in demand and scaled higher. RNRL soared 5.04% at Rs113.60, Aban Offshore flared up 4.95% at Rs4,050, Essar Oil added 4.75% at Rs261.20, RPL gained 3.99% at Rs192.90 and BPCL was up 1.99% at Rs356.05. In the metal pack, Gujarat NRE zoomed 6.28% at Rs159, NATCO shot up by 4.62% at Rs538, Hindustan Zinc rose 3.07% at Rs752 and Ispat gained 2.40% at Rs34.10.

Over 2.15 crore IFCI shares changed hands on the BSE followed by RNRL (1.49 crore shares), Ispat (1.40 crore shares), Aishwarya (1.39 crore shares), Chambal Fertilizers (1.24 crore shares) and RPL (1.04 crore shares)

Mastek eyes $20-30 mln acquisition in FY09 - CFO

2008-05-21T09:08:00.001-07:00

Software services firm Mastek Ltd is looking at an overseas acquisition of around $20-30 million during the current financial year, a senior official said on Wednesday.

"We are mainly looking at the U.S. and the UK and it will be insurance or government vertical," Group CFO and Director (Finance), R.S. Desikan told reporters, referring to firms which have expertise in handling government jobs and insurance sector.

In March, the company paid $29 million to acquire U.S.-based STG International, which offers business software services to the property and casualty insurance companies in North America.

The insurance vertical currently contributes a quarter to the Mastek's total revenues and this share is expected to reach 40-45 percent in the next 2-3 years, he said.

Mastek shares ended 1.25 percent down at 392.60 rupees in the Mumbai market.

Global liquidity to dictate markets

2008-05-21T09:06:00.000-07:00

We have seen a sustained one-way rise in our stock market after the Fed cut the key short-term rate on September 18, 2007. The other important central banks in Europe have also kept their policy rate steady, which goes to show that the central banks would rather overlook inflation concerns than jeopardise growth. Thus, an easing monetary policy in the developed markets is likely to free up a lot of liquidity, which would find its way into the emerging markets like India.

To know how to make the most of the resulting opportunity read our latest Market Outlook report, Global liquidity to dictate markets.

Market Outlook is a premium content available absolutely free of cost to only our trading customers. If you don’t have a trading account with us, open one right here right now.

Trading-broker comparison table

2008-05-21T08:59:00.000-07:00

Broker Comparison Table

Compare Us
Account Minimum
Cash Account	$500	No Minimum	$2,500	No Minimum	$1,000
Margin Account	$2,000	$2,000	$5,000	2,000	$2,000
Commission for Online Trades
Market Order Price	$7.95	$9.99	$19.95	$9.95	$12.99
Limit Order Price	$7.95	$9.99	$19.95	$9.95	$12.99
Commission for Broker Assisted Trades
Market Order Price	$14.95	$44.99	$55.00	Not Available	$45.00
Limit Order Price	$14.95	$44.99	$55.00	Not Available	$45.00
Other Features
Maintenance Fees	<10>	None	None	None	$160 Annually
Choice of Software	4	1	4	1	3
Futures Trading	Yes	Not Available	Yes	Not Available	Yes

Disclosure : Competitor prices were obtained on 2/1/2008 and are believed to be accurate but not guaranteed. Some of the above firms may offer reduced commissions or waive fees. Use the online broker comparison table to see why NobleTrading is very different from most other brokerages. NobleTrading has released the revolutionary new Name Your Own Price plan. Click here to name your own price

The Health Insurance Game

2008-05-16T04:00:00.000-07:00

We may all have to wait until 1 July before we're able to know which way the health insurance system will turn. Away from private health cover and onto the public system, or will more than 400,000 Australians currently holding private health cover decide to stick with it?

From a personal perspective, we in the Cook household - a grand total of two these days - will opt out. Why? Cost, pure and simple. We're a single income family earning what is supposedly classed as an average household income. I'd debate that, but for the purposes of this piece, we'll say it's 'average'. Until today, we were paying just over $215/month for basic hospital cover with a $500 excess, plus ancillaries cover for spectacles, dental, etc. That's over $2,500 per annum, and neither of us has had a claim for anything other than dental or spectacles in the past ten years. Even the dental work we both had ages back, as expensive as it seemed at the time, amounted to $2,000, of which we received a hefty rebate, given my wife worked for our health insurer at the time. That aside, over ten years, we've shelled out some $25,000 and claimed, at most, around $3,000 tops.

We were both working back then, but now it's down to what your's truly makes. Health insurance has risen markedly over the time, and our claims are minor. Today, my other half cancelled the hospital cover on the basis of the federal government announcement of the doubling in the Medicare income threshold and adjustment of benefits. Even if we have to wait until Conservatism looses it's teeth in the Senate, under Labor we're virtually assured of some recompense for what we're forced to pay in the Medicare levy.

That leaves us with the ancillaries cover only. That's $70/month. $840/annum. We usually both get a set of spectacles every 12 to 18 months. Our teeth are good, and we take pains to take care for them, so all up, our annual eye care costs amount to around $600. Am I making a case here? We'll both get new specs this year and then it's bye! bye! private health insurance cover.

We can't afford to subsidise other users of private health insurance cover. It's that simple. Other people who aren't as lucky as we are (yes, I realise I used the term 'lucky' and it's connotations) make more claims on their insurance, and good on them for doing so if they need to, but for us, that $2,500/annum, and climbing, is money we can no longer afford to pay out on the off-chance that we might be hospitalised. Frankly, I've seen both parents in the public system over the past several years, and while my Dad died as a result of an infection incurred in that system, I'd say his case was relatively rare. He was 82, and suffering emphysema, after all. The public system is not as bad as many would have us believe. Certainly, it's not you-beaut-private-room, hot-and-cold-running care, but it is care and very good care. If you're in hospital, you're clearly ill, so does the environment matter all that much? It's the care and attention which matters, and from my experience, I have no problems in that arena. Shared ward or private room, at the end of the day, if you're crook, you're crook. No plasma TV or single room dunny is going to make you feel any better.

I'm left wondering, especially after listening to ABC Radio National's "Australia Talks" earlier this week, just how many Australian's will think and act as we have? On the basis of that program, not many, but then, judging by the demographic which called into the program - still had children, between 35 & 45 - perhaps it wasn't very representative. Time will tell, I suppose, but for us at least, we'll be better off financially.

Health Insurance for the Self-Employed

2008-05-16T03:56:00.000-07:00

As I mentioned previously, among other things, failing the quals and being kicked out of the program has left me suddenly without health insurance after the end of this month. For the summer, I have work lined up, but it is without benefits. After that, I hope to be able to work for Husband’s company, which would make us both self-employed. (For stability, I’ll get a real job if we don’t have a solid amount of funds in the company account). After I found on e-health insurance that a medical plan with prescription (and maternal) coverage for Husband and I combined would run $700 a month, Sara from Yellow Ibis shared with me this great NYTimes article on finding health insurance for the self-employed.

From the article I found this great resource, healthinsuranceinfo.net, which is hosted by the Georgetown health policy institute. From there, you can get a free state-specific consumer guide on getting and keeping health insurance. I haven’t completely delved through my state’s guide yet, but I’m glad I found this great resource!

Plan a healthy life for your dog

2008-05-16T03:55:00.001-07:00

Nowadays, almost everybody is taking some or the other dog insurance policy, so that they can gift a healthy life to their precious pet. Such services not only preserve a good amount of monetary assistance for your dog but also ensure an instant source of help whenever required. Most of the insurance providers are associated with numerous veterinarian and medical centers, so that the pet owners can directly approach them at times of urgency. Various pet insurance policies are now available in the finance market for providing economic assistance to the pet owners.

However, there are few mandatory steps that must be considered before finalizing any dog insurance deal. First of all check for all the services and facilities that your insurance policy covers. Like any other human being, even dogs need the regular medical check ups. Hence, make sure that your preferred insurance program does have substantial monetary scope to bear the expenses of these important check ups. Moreover, dogs easily catch infections and other seasonal problems. In fact, contagious health problems are severely prominent with dogs. And for this clause also, most of the insurance companies have made special financial arrangements. Other than all these expenditures, the policy must also cover for some very common problems such as medical bills, foreign body ingestion, bone fractures, accidents, allergic reactions and first time sickness. These insurance policies also pay for advertising expenses, if your dog gets lost or missing. Hence, do not wait any more and immediately settle for a good dog insurance policy.

On the other hand, even the insurance companies follow some important specifications before offering the various services of the insurance policy. First of all they check the health condition and the age of the dog. Most of the insurance providers are interested in young dogs, as they have less chances of sickness. However, with an adult dog, it gets tougher to obtain a beneficial insurance program as they are more likely to catch infections and diseases. In addition to this, your pet is also required to go through a medical check up, so that if your dog is suffering from any fatal disease, it can be easily detected. Therefore, it would not be incorrect to state that insurance package for an old dog is somehow an expensive deal. Hence, if you have recently bought a dog then this could be the most apt time to buy a decent dog insurance program.

You can easily inquire about the various insurance companies that are offering dog insurance through the medium of Internet. All leading insurance providers are available on the web with their websites that display each and every detail about the insurance policy. Any interested pet owner can also directly apply for their services through the online procedure. However, make sure that you read all the clauses and objectives carefully so that you can insure an appropriate insurance deal for your most valued pet. So, if you have a dog and wish for his long life then immediately select an insurance policy.

Finding a Cheap Online Auto Insurance Quote

2008-05-16T03:42:00.000-07:00

In these days of the Internet, finding out about getting an auto insurance rate has never been easier. When you visit some insurance company websites to get an online quote, you can actually get several quotes at one time in less than half an hour. Be aware that there can be a vast difference in insurance rates from one company’s website to another. In fact, statistics have proven that the rates can differ as much as 300 percent! For the best rates, it is a good idea to check out as many different companies as possible.More...

There will be an online form for you to fill out in order to receive your insurance quote. You should make sure to type in as many details about your vehicle as you can. The company will want to know the make and model, the estimated number of miles that you drive on a yearly basis, the state where you live, whether or not you have any sort of safety devices installed such as an anti theft device, and possibly some other information as well.

Of course, you want to receive the best insurance quote you can. You may be eligible to apply for certain discounts if you can meet certain criteria, such as if you are a member of a certain club or organization, have a degree from a certain college, are a mature driver, or several other choices. The rate you receive is also going to depend on the state of your driving record and your credit history.

Usually, insurance companies have a special formula that they use to figure out what your credit score is. The number that they come up with will help them to see what kind of a credit risk you are, and is crucial in determining the rate you will end up with.

The rate you pay is also going to depend on what options you choose for your insurance. Collision, comprehensive, and liability will be available from all insurance companies. It may help if you call the toll free number listed on the web site so that you can ask questions about these options. A good agent will help you to determine whether you would be under insured or over insured. A happy medium is what you are shooting for. A good agent will also be patient, and will take up time with you so that he can find out more about your vehicle and you. This will help him to determine whether you can get any discounts.

Make sure to check your policy out at least once a year before renewing it, especially if your circumstances have changed. Many people overpay their premium because there are options on the insurance that they do not need any longer, and they are never aware of it. Taking the time to check for this can save you money.