Festive fervour in the Indian Bourses: Fourth straight day of gains; Dhoot Industrial Finance Ltd hits the Buyer Freeze:

Yes, at last the inevitable happened: The Dhoot Industrial Finance Ltd hit the Upper Circuits today closing at Rs.20.7. The stock was recommended on August around Rs.15- Rs.16 and today in the morning it was recommended. It is a good company and should cross Rs.30 soon. It is into industrial finance and also into wind power like Morgan Ventures Ltd. Or u can say a Clone of Morgan Ventures Ltd to some extent.

Pioneer Distillaries Ltd recommended at Rs.17 hit the Buyer Freeze today before cooling off a bit.

Fourth straight day of gains:

The benchmark index was in good nick, posting gains for the fourth straight day, due to continued buying for index pivotals. The Sensex advanced 280 points (2.30%), from 12,173.91, on 25 September 2006 till today's closing. The benchmark index settled above 12,400, for the first time after 11 May 2006. Buying was conspicuous across the board, following a smooth rollover in the futures & options segment for September. The fresh build-up in positions for October boosted the indices further. The BSE 30-shares Sensex rose 73.68 points (0.60%), on 12,454.42. It had oscillated between 12,485.17 and 12,381.29, for the day. The S&P CNX Nifty rose 16.65 points (0.47%), to 3,588.40. The market-breadth was rock solid, as buying picked up across the small-cap and mid-cap counters. For 1,599 shares rising on BSE, only 899 declined. As many as 70 shares were unchanged. The BSE MidCap index rose 1.41%, to 5,148.38, while the BSE Small-Cap index advanced 1.16%, to 6,161.73. Among the 30-Sensex pack, 23 advanced while the rest declined. Maruti Udyog was the biggest gainer, up 3.78%, to Rs 978 on 6.62 lakh shares. Tata Steel (up 3.29% to Rs 536), Bajaj Auto (up 3.06% to Rs 3,015) and Reliance Communications (up 2.22% to Rs 347.55) were the other gainers. NTPC rose 2.16%, to Rs 130.35, on 8.14 lakh shares. NTPC has announced that a 210 Mw unit of its Feroze Gandhi Unchahar Thermal Power Project — Stage III, Uttar Pradesh, has been successfully commissioned on 28 September 2006. With the commissioning of this unit, the installed capacity of Feroze Gandhi Unchahar Thermal Power Project has become 1,050 Mw, and the total installed capacity of the company, including those owned through joint venture, has become 26,404 Mw. Bharti Airtel lost 0.66%, to Rs 468. A large block deal was executed in the stock on BSE, in the institutional segment, at Rs 500 per share in afternoon trade. Index heavyweight Reliance Industries (RIL) rose 0.24%, to Rs 1,170.80, on 7.83 lakh shares. It had surged to a high of Rs 1,178. As per reports the company will cut its retail pump prices of petrol and diesel from midnight on Saturday. The company is expected to reduce both petrol and diesel by between Rs 1 - 1.50 per litre on account of a steady decline in global crude oil price. Hero Honda (down 1.66% to Rs 776) and ICICI Bank (down 1.75% to Rs 696) were the major losers. IndusInd Bank surged 5.13% to Rs 50.20, on a huge volume of 1.09 crore shares following as 42 lakh shares (amounting to 1.5% of the banks' equity) changed hands at an average price of Rs 46 per share, in a block deal on the BSE. Tata Investment Corporation climbed 5.06%, to Rs 402, after four block deals, of 3.89 lakh shares each, were executed in Tata Investment Corp on BSE. The deals were struck at prices ranging from Rs 382.65 to Rs 395, and constituted 4.51% of the company's equity. Two block deals of 14.09 lakh shares each, were executed in Jyoti Structures on BSE, at Rs 117.30/Rs 117.35. Another deal of 10 lakh shares was struck at Rs 113.50. The stock slipped 0.6%, to Rs 114.75. Metal stocks were back in action, after staying lacklustre in the past couple of sessions, on reports that producers are considering a hike in steel prices. The BSE Metal index was the biggest gainer among sectoral indices, up 163.19 (1.96%), at 8,508.79. Metal stocks joined the party on reports that they are considering a price-hike in anticipation of strong demand for the third quarter, from both government projects and the private sector. Although the production of finished steel has increased by 7% during April-August 2006, consumption has also risen at an equal pace. Sail (up 3.72% to Rs 78.10), Rathi Udyog (up 20%, to Rs 31.70), Essar Steel (up 6.17% to Rs 36.15), Visa Steel (up 15.30% to Rs 36.55), Ispat Industries (up 4.8%, to Rs 11.60) and JSW Steel (up 1.55%, to Rs 285.25) advanced. Auto shares were in demand on expectations of strong sales for September. The BSE Auto index rose 94.91 points (1.80%), to finish at 5,365.72. TVS Motor (up 0.70% to Rs 124), Ashok Leyland (up 2.38% to Rs 45.15), Tata Motors (up 1.88% to Rs 858.30) and Mahindra & Mahindra (up 2.31% to Rs 683) rose. GMR Infrastructure rose 4.5% to Rs 235.75 after GMR Energy, a 100% subsidiary of the company, signed a power purchase agreement with GRIDCO, Government of Orissa, for setting up of a 1,000 Mw coal based thermal power plant in Dhenkanal district. The company has already signed a memorandum (MoU) with the state government on 9 June 2006. ICI India jumped 3.24%, to Rs 350. As per reports, it intends to create a corpus of Rs 1,500 crore, exclusively for acquisitions in India, to rapidly increase market share. The company is said to be in talks with three to four companies. Opto Circuits climbed 2.46%, to Rs 450, after members approved an issue of bonus shares, in 1:1 ratio, and set 31 October as record date for the same. Glenmark Pharma plunged 6.62% to Rs 312.55, even as the company rebuffed a newspaper report that clinical trials of its anti-asthma drug have been discontinued. The finance minister P Chidambaram said there was ample liquidity in the banking system and that steps will be taken - fiscal and monetary -to keep inflation below 4%. He, however, foresees some pressure on food prices. The wholesale price index rose 4.56% in 12 months to 16 September 2006, lower than 4.61% a week earlier, data showed on Friday. Chidambaram also said that the movement of the country's stock market was orderly. India's GDP grew 8.9% in the April-June 2006 quarter from a year earlier, boosted by manufacturing and services output. Agriculture -- which accounts for about 23% of GDP -- grew at an annual pace of 3.4% in the quarter, compared with 5.5% annual growth in January-March 2006. Manufacturing output, which accounts for nearly 15% of GDP, expanded by an annual 11.3%, faster than the growth rate of 8.9% in January-March. The Nikkei average rose 0.64% on Friday, extending gains for a third session as Softbank Corp., soared on hopes for a new line-up of cellphones, but the market logged a 5.5% decline for the first half of the 2006/07 fiscal year. The Nikkei 225 index ended 102.73 points higher, at 16,127.58. In the US market, the Dow Jones neared an all-time closing high touched in January 2000, ending at 11,718, 29 points higher, while the Nasdaq Composite index rose 7 points, to settle at 2,270. Crude oil price in the US market edged lower, with the Nymex light crude oil for November delivery falling 20 cents, to $ 62.76 a barrel. However, the London Brent crude gained 20 cents, to $ 63.54 per barrel. On 27 September 2006, FIIs were net buyers to the tune of Rs 555 crore (gross purchases worth Rs 2,090.80 crore and gross sales of Rs 1,535.80 crore), while mutual funds were net sellers of stocks to the tune of Rs 115.50 crore (gross purchases worth Rs 484.11 crore and gross sales of Rs 599.61 crore). [From Internet]

Happy "Durga Pooja", "Navratri" and "Dassera".

Best wishes,

Suman Mukherjee

India.

www.eindiabrokers.com

www.bcozindia.com

http://finance.groups.yahoo.com/group/SumanSpeaks/