Profit Booking emerged in the pivotals in the late hours: Mid caps Close at 5053.25 up 12.30 points Small caps close at 6523.03 up 42.87 points; Crude is trading at 59.93:The much expected rally has started in the Mid, Small and Micro-cap counters:

The market, which was in excellent form during the first-half of trading, eased in the second as investors began booking profits at the higher level. However, it succeeded in retaining the 13,700 level. The BSE 30-shares Sensex finished with a modest 22.50-point gain, at 13,703.33. It had moved in the 13,767.85 - 13,665.52 range, for the day. The S&P CNX Nifty settled 5.40 points higher, at 3,950.85. The total turnover on BSE amounted to Rs 5,213 crore, boosted by four block deals of 15.30 lakh shares each, executed in HDFC in opening trade at an average Rs 1,662 per share. It was the top traded counter on BSE, with a total turnover of Rs 1, 021.86 crore. The deals accounted for 2.4% of HDFC's equity. The stock lost 0.25% to Rs 1,648 on a total volume of 61.48 lakh shares. The turnover has been rising as the day of expiry of November 2006 derivative contracts, approaches. The market-breadth stayed positive as small-cap and mid-cap stocks also benefitted from the rally on the bourses. For 1,336 shares that advanced on BSE, 1,195 declined; while 88 remained unchanged. The BSE Mid-Cap index was up 39.42 points (0.7%), to 5,654.71, while the BSE Small-Cap index gained 42.87 points (0.66%), to 6,523.03. Among the 30-Sensex pack, 18 advanced while the rest declined. NTPC was the top gainer, up 5.64% to Rs 149.95, on a high volume of 26.05 lakh shares. It struck a new 52-week high of Rs 150.70 following strong demand. As per grapevine, the company will benefit the most if the Indo-US nuclear deal finally sees the light of day. Pharma major Dr Reddy's advanced 2.53% to Rs 756, while FMCG major Hindustan Lever was up 1.02% at Rs 243.10. Tata Steel rose 2.57% to Rs 483.55, on a volume of 15.34 lakh shares. The company brushed aside media reports about a sweetened bid for Corus Group, to stall the counter-bid by a Brazilian company. Soon after Brazil's CSN on 17 November launched a counter bid for Corus, the Tata Steel stock started languishing with investors worrying that the steel maker will over-pay in a bidding war. ONGC rose 1.16% to Rs 855, on reports that it is likely to win 21 blocks in the sixth round of the New Exploration Licensing Policy (NELP VI). Of the 21 likely to be awarded to ONGC, 12 are deep-water blocks. Index heavyweight Reliance Industries (RIL) lost 0.90% to Rs 1,260, on 4.39 lakh shares. It had struck an intra-day high of Rs 1,274.50. Hero Honda was the top loser, down 1.47% to Rs 735.95. It had hit a high of Rs 747. The BSE Metal Index rose 120.58 points (1.36%), to 9,015.39. Welspun Gujarat Stahl Rohren (up 1.80% to Rs 85.25), Bhushan Steel (up 2.70% to Rs 351.40), Mukand (up 1.86% to Rs 85), Shree Precoated Steel (up 4.54% to Rs 502), SAIL (up 1.75% to Rs 90) and Hindalco (up 1.71% to Rs 178) moved higher. Siemens plunged 8.34% to Rs 1,172.50, on a high volume of 14.21 lakh shares. The shares slipped for the second straight day, after the company came out with consolidated results, which were below market expectations on 22 November. Zinc and cement producer Binani Industries lost 1.52% to Rs 354 ahead of the initial public offer of its subsidiary, Binani Cement. The stock had surged to a high of Rs 381.40. JP Morgan, which holds 25% in the Binani Cement, plans to sell 10.09% of it. EMCO jumped 2.82% to Rs 673, after bagging a Rs 38 crore project for setting up a 400 Kv sub-station. The current order-book stands at Rs 830 crore, EMCO revealed. Thomas Cook India dropped 1.2% to Rs 533.95, after it reported 64.8% fall in net profit for the October quarter. Thomas Cook India (TCIL) lost 3.60% to Rs 521.25 after it reported a sharp fall in net profit to Rs 3.08 crore for the quarter ended October 2006, compared to a net profit of Rs 8.76 crore for the quarter ended October 2005. The net fall in net profit was mainly because of the higher base effect – for the quarter ended October 2005, when the company had an extra-ordinary income of Rs 4.73 crore. Net sales rose 35% to Rs 38.03 crore, from Rs 28.10 crore. Yes Bank jumped 9.52% to Rs 130, after RBI raised FII/NRI ceiling in the scrip to 49% of the share-capital. FII-holding in the scrip as on 30 September 2006, was 15.3% of the equity. Gati advanced 3.20% to Rs 95.50, amid reports that Reliance Capital is eyeing 10 - 20% stake in the logistics company. Igarashi Motors jumped 17.32% to Rs 149, after it scheduled a board meeting on 30 November 2006, to consider raising capital via preferential issue/QIP. BPL rose by its maximum daily limit of 5%, to Rs 66.85, as its board decided to transfer the battery business to a joint venture, and to lease out the facilities. Jayant Agro Organics jumped 12% to Rs 60, after it said it will consider raising more capital. The company's board meets on 30 November 2006, to consider raising funds. Either a rights issue of equity shares or debentures, an issue of warrants, or floating of bonds will be considered by the board. FCS Software Ltd hit the buyer Freeze today with huge number of pending orders to be executed. The company came up with good results in the September, 2006 quarter.There are strong rumours that the scrip this time will cross Rs.200. There are lot of developments in the company offlate, which will be informed in due course of time. Roto Pump Ltd came down a bit low due to profit taking with low volume. This indicated that the fall in the stock price might be arrested. The company is a major player in the pump sector. Gravity(I) Ltd today rose with huge volume and is still trading above Rs.6. There are lot of developments in the company. I have started picking up the stock from Rs.5 and picked up some yesterday at around Rs.6. I have good position in the counter and will go on increasing in the days ahead. BSEL Infrastructure Realty Ltd closed in the green. The stock is still trading above Rs.62 and hence it could either go up further in the days ahead or consolidate at this price. This is dubbed as the "Unitech" of today by some quarters. Gujarat Intrux Ltd my earlier call hit the historic high today before cooling down a bit. The company did a number of initiatives which should increase both its top and bottomlines. Gateway Distripark Ltd(GDL) has now been recommended by Kotak Securities Ltd with a target above Rs.250. I had recommended the stock some days back at around Rs.163 and Rs.167.

Gujarat Intrux Ltd which was recommended some months back in www.bcozindia.com at around Rs.35-Rs.37 range hit the buyer freeze at Rs.59.55 before cooling down a bit.

Avon Organics Ltd rose to Rs.21.50 from the previous close of Rs.19.55. The company has announced plans to spike up its bottomline and topline. The company came out with disappointing results in the September,2006 quarter.

I have sold some of my holdings in Hazoor Media Ltd. I sold almost 65% of my holdings in the company. Chandra Prabhu International Ltd is consolidating at the current price waiting for the next upmove. The stock will rise as soon as the company makes a formal declaration about the Joint Venture. It is a major player in the Coal Sector. The company has a number of interest including Bio-tech, Jatropha Plantation and Synthetic rubber.The company has a joint venture with an US company in the matters of rubber exports. The company imports synthetic rubber from South Korea also. This quarter its results got hit slightly due to some of its Payment cheques getting bounced--otherwise the results have been much better. The company is taking adequate steps to rectify this fault. Meanwhile the management has been revamped with the introduction of a new company secretar Sequentially the company came out with wonderful results. India's wholesale price index rose 5.29% for the year ended 11 November, marginally lower than the previous week's annual rise of 5.30% due to lower energy and milk prices, data showed on Friday. The annual inflation rate was at 4.09% during the corresponding week of the previous year. The Nikkei average closed 1.13% down on Friday after hitting its lowest intra-day in two months, as shares of exporters such as Honda Motor Company slid on concern a higher yen will crimp earnings from abroad, and as banks and insurers fell after earnings reports. The Nikkei lost 179.63 points to 15,734.60 after earlier hitting its lowest point since late September. Hang Seng index was down marginally by 0.03%, or 5.02 points, to 19,260.30. FIIs continue to mop up Indian stocks, overlooking apprehensions of stretched valuations. As per provisional data, FIIs were net buyers to the tune of Rs 295 crore on Thursday (23 November), the day when the Sensex lost 26 points. Mutual funds bought shares worth a net Rs 184 crore on 22 November 2006. High volatility is expected in the next few days, ahead of expiry of November 2006 derivative contracts next Thursday (30 November). On Wednesday (22 November), the open interest in NSE's futures & options segment hit an all-time high of Rs 57,158 crore. The previous record high was Rs 56,991 crore of 27 April 2006. 46% of the open positions are stock futures and 22% are index-based futures.[With Inputs from the internet]

Best wishes,

Suman Mukherjee

India.

suman2005s@gmail.com

www.eindiabrokers.com