Sensex & Nifty goes down on volatile trade as The Reserve Bank of India (RBI) reviewes its annual monetary policy:Pre-budget looms large: Exit Chandra Prabhu International Ltd for the time being: Adani Enterprise--Vishal Exports Overseas forge a tie-up for the power projects: NR International Ltd to declare liberal bonus issue soon. The company's fundamentals are improving. It is a Coal Mining company: If the results are the only criterion for the movement of a Stock then why did Perfect Circle Ltd hit the upper freeze today even its losses increased??!! But who will teach those IDIOT-Writers in Money Control Message Board and the Manipulative Moderators there who allow such postings: Nagpur Power and Industries Ltd Chugs along smoothly even on 25 day, hitting non-stop buyer freezes: Do not enter Teledata as MMB moderators might be playing with it: Jai Corp as Expected hits the lower circuits and heading towards Rs.500 mark: The market is TRENDLESS: While Tata Steel Shops for Chorus, the market Corus proves to be against the company; as it goes down tamely: The pre-budget rally to start from the first week of next month: Those who have not sold Kakatiya Cement Sugar & Industries Ltd even after my sell call at Rs.118, have no option but to hold: Do partial Profit Booking in Gravity(I) Ltd: Keep Tilaknagar Industries Ltd in your watch list: The new alliance & Superb Quarterly Results, fails to lift the shares of BSEL Infrastructure Realty Ltd as the moderators of MMB Continues to misinform investors about the company: Those who have not booked profits in Landmarc Leisure earlier please do it fast: Why Can't www.moneycontrol.com have a www.myiris.com like message board, remains an unanswered and moot question:Watch out for the results of Premier Explosives Ltd tomorrow. The results according to my estimates should be good; but I have stopped guessing about the results, as sometimes even the best of ones sources give deceptive information about companies: MY medicine on Shivalik Global somewhat halts its upward journey: G M Breweries Ltd comes with flat results but the stock goes does as the misinformation campaign undertaken by some Touts and Thugs, takes its toll: The Stock Market is now fully in the grip of Operators:

The market remained extremely volatile throughout the session. A hawkish stance taken by the RBI during the review of its annual monetary policy and the Federal Reserve's meeting scheduled later today, soured the mood on the bourses. The 30-shares BSE Sensex lost 121.04 points (0.85%), to 14,090.92. It had opened higher, at 14,219.38, and surged to a high of 14,269.31 in early trade. The benchmark index had also plunged to a low of 14,045.61. It fluctuated a sharp 223.70 points for the day. The S&P CNX Nifty was down 51.85 points (1.26%), to end at 4,072.65. The market-breadth ended negative as small-cap and mid-cap stocks remained under pressure. For 1,706 shares declining, 939 advanced and 43 remained unchanged. The total turnover on BSE amounted to Rs 5099 crore. Among the 30-Sensex pack, 19 declined while the rest advanced. Tata Steel was mauled. It was the top loser in the Sensex. The scrip plunged 11.10% to Rs 461.80, on high volumes of 58.66 lakh shares. The stock also plunged to a low of Rs 461.10, down from the day’s high of Rs 510. Tata Steel has offered Corus' investors 608 pence per share in cash, topping a final bid of 603 pence from Brazilian Companhia Siderurgica Nacional (CSN). The 608 pence per share that Tata Steel will pay values Corus at around seven times its forecast of earnings before interest, tax, depreciation and amortisation (EBITDA) for 2006, well above the multiple Mittal Steel paid for Arcelor. Mittal Steel had paid 4.6 times the latter's historic EBITDA. Tata Steel posted 41.1% growth in net profit in the December 2006 quarter to Rs 1063.75 crore, on 21.4% growth in net sales to Rs 4469.98 crore. Both the bottom line and top line growth were as per market expectations. Hindalco (down 3.24% to Rs 174.85), HLL (down 3% to Rs 207.45) and Wipro (down 2.66% to Rs 614), were the other losers. Cement maker Gujarat Ambuja Cements was the top gainer, up 1.78% to Rs 137, as 12.56 lakh shares changed hands on BSE. Reliance Energy (REL) gained 1.60% to Rs 514, on a volume of 5.26 lakh shares. REL has bagged power projects worth about Rs 4,150 crore in Haryana and Uttar Pradesh. The Haryana Power Generation Coporation awarded a contract for two units of 600 Mw each on a turnkey basis to REL. The Rs 3,763 crore project will be executed by the company's Engineering, Procurement and Construction (EPC) division. The second contract of Rs 395 crore has been awarded by Uttar Pradesh Rajya Vidyut Nigam for balancing plant package of 500 Mw Parichha extension project. ITC rose 0.93% to Rs 174, after reporting 33.6% growth in net profit in the December 2006 quarter to Rs 717.40 crore, from Rs 536.83 crore during the year ago period. The net profit was at the top end of analysts' expectations. Net sales rose 23.8% to Rs 3165.57 crore (Rs 2556.04 crore), which was also in line with estimates. Index heavyweight Reliance Industries (RIL) was down 1.52% to Rs 1360.75. It had advanced to a high of Rs 1390. As many as 11.82 lakh shares changed hands in the RIL counter. The Nikkei share average dropped 0.61% on Wednesday, as Sony Corp and TDK Corp declined after raising their profit forecasts more cautiously than investors had expected. The Nikkei was down 106.77 points, at 17,383.42. The Reserve Bank of India (RBI) reviewed its annual monetary policy and found the rate of bank credit growth "clearly excessive." Bank credit is growing at a robust 30%. The RBI, therefore, hiked its repo rate by 25 basis points to 7.5%. The statement, which was very much on expected lines, left the cash reserve ratio (CRR) and reverse repo rate unchanged at 5.5% and 6%, respectively. The RBI has also kept the bank rate unchanged at 6%. The central bank said its monetary stance will be to ensure price stability and anchor inflation expectations. The RBI said its objective is to bring inflation as close as possible to 5.0-5.5%. Governor Y V Reddy reiterated RBI's committment to adapt to evolving global and domestic situations, which impact inflation and growth. The central bank said liquidity management will be given top priority in the remaining part of the year. It said it would use all policy instruments at its disposal to regulate money supply. The government on Wednesday revised upwards its 2005/06 gross domestic product growth estimate to 9% from an earlier 8.4%. Manufacturing output growth was revised to 9.1% for the year to March 2006, from the earlier 9%. Growth in farm output for 2005/06 was pegged at 6% compared to an earlier estimate of 3.9%. Even the Federal Reserve officials meet later today, and may leave the overnight lending rate unchanged at 5.25%. Fed officials say controlling inflation is a priority than preventing any possible economic weakness. US stocks rose on Tuesday as a 5.5% jump in oil prices to nearly $57 a barrel sparked a rally in the energy sector, while shares of Motorola Inc gained after investor Carl Icahn said he wanted a seat on Motorola's board. The Dow Jones industrial average rose 32.53 points, or 0.26%, to end at 12,523.31. The Standard & Poor's 500 Index added 8.20 points, or 0.58%, to finish at 1,428.82. The Nasdaq Composite Index gained 7.55 points, or 0.31%, to close at 2,448.64. Oil notched up its biggest gain in 16 months on Tuesday, as funds poured fresh cash into the market because of cold US weather and OPEC supply cuts. US crude was trading at $56.71 a barrel early on Wednesday.[With inputs from the internet] More in the following postings....... Best wishes, Suman Mukherjee India. www.eindiabrokers.com

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