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Wednesday, July 03, 2013

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WINNING STROKES: THINK DIFFERENT
My yesterday's call Shree Renuka Sugars Ltd at Rs.16.50, today moved to Rs.17.15 before cooling down at Rs.16.75. Buy call was given on the news that, the State-owned oil marketing companies are planning to float tenders in July to procure around 600 mln ltr of ethanol.
Today a buy call was initiated in Nifty_Futures at 5765 for a target of 5820, which I think will be achieved within this week. Today, the DIIs were net buyers while there was selling basically from the FIIs. 
A Buy call was initiated today in  Wipro Ltd at Rs.344-345, T--Rs.358--361, SL--Rs.339. The depreciation in the INR against the USD is positive for all the IT counters.  
Some Important News:
  • (+VE) TELECOM: The Telecom Commission is in favour of allowing 100% FDI in the sector with the condition that FDI up to 49% will be automatic, said a senior official.
  • (-VE) COAL INDIA: Produced 102.87 MnT of coal in Q1FY14 against the tgt of 106.88 MnT.
  • (-VE) ONGC: In a setback to ONGC Videsh, the Kazakhstan government has decided to exercise its pre-emptive rights to acquire US-based ConocoPhillips's 8.4% interest in the giant Kashagan oilfield that the Indian company was eying.
  • (+VE) DEFENCE: The govt may allow up to 100% foreig n direct investment in defence units located in special economic zones on a case-to-case basis.
  • (+VE) GOLD: India's gold imports in June are estimated to have fallen drastically to 35-40 tn from a record high of 162 tn in May.
  • (+VE) POWER: The recent Cabinet decision on coal cost pass-through should enable quick clearance to nine power plant projects, which will be considered today by the Cabinet Committee on Investment.
  • (+VE) ADANI PORTS AND SEZ: Has formed a JV with Switzerland-based MSC Mediterranean Shipping Co to operate its container terminal at Mundra port.
  • (+VE) AMBUJA CEMENTS: Holcim plans to carry out a substantial restructuring of Indian operations that could include a much-anticipated merger between it and ACC.
  • (+VE) DB CORP: Has sold its entire 51% stake in Divya Prabhat Publications.
  • (+VE) HIKAL: Has signed a long-term supply contract with a global bio-pharma company.
  • (+VE) RCOM: Is close to selling over 80% stake in direct-to-home operation arm Reliance Digital to Sun TV for around 25 bln rupees.
  • (+VE) SAIL: Produced 3.2 mln tn of saleable steel in Apr-Jun, 6% higher than last year.
  • (+VE) TATA POWER: Announced that it has achieved financial closure for its 95 MW Tsitsikamma wind farm project in South Africa through Cennergi--its 50:50 joint venture with Exxaro Resources.