Wednesday, May 09, 2007

Sensex Bounces back to 13,700 level: Late buying in Premier Explosives Ltd on the anticipitation of good quarterly results helps it to conquer Rs.42 mark again. Keep holding the counter and add on all declines: Southern Online Bio Technology Ltd remains flat on the anticipation of the Opening of the company for commercial production: Sabero Organics Gujarat Ltd also closes flat at Rs.14.37: The bulk drug marker Gujarat Themis Biosyn Ltd Ltd rises 3.47 % today. The promoters' holding is quite large if one considers, the updated sheet upto 31st December, 2007. But the company's balance sheet is in deep red: Investors can take positions in Ador Fontech Ltd at the current price of Rs.86.60: Garnet Construction Ltd falters after they came out with lower than expected FY-06-07 results. Book profits and exit the counter for the time being: Stone India Ltd goes down the drain after my sell call at Rs.140.50( this was the stop loss which I mentioned during the market hours): Don't enter Redington India Ltd & Sparsh BPO Services Ltd as both of them look overvalued according to my findings. But if anyone has already entered following technicals please keep a SL of Rs.196 in Sparsh BPO Services Ltd: Sideways movement to continue in the large cap counters: The market recovered almost its entire lost ground in the earlier part of the day as value buying emerged at lower levels. Strong global markets helped sentiment, forcing traders to cover their short positions. Japan's Nikkei average gained 0.52% on Wednesday, 9 May 2007, to its highest close since the global equity sell-off in February 2007, as Kawasaki Kisen Kaisha jumped following an upbeat earnings report, prompting investors to buy shares in other shipping firms. The Nikkei rose 91.28 points to 17,748.12, its highest close since 27 February 2007. Hong Kong’s Hang Seng index was up 0.62% or 128.72 points to 20,835.07 Back home, at 14:35 IST, the Sensex was down 45.68 points to 13,719.78. Its high for the day, amid intense bouts of volatility, so far was 13,747.74. Earlier, the Sensex had opened weak at 13,709.95 as profit booking continued for the third straight session, pulling the benchmark index below the 13,700 mark to a low of 13,612.04. Traders are refraining from building fresh positions ahead of the crucial US Federal Reserve’s meeting today evening (IST). Fresh short positions in the futures and option (F&O) segment are said to have been built up on Tuesday,8 May 2007, as the basis (the spread between futures and spot market) turned negative. The market is closely watching the 13,700 level for the Sensex, which was cracked a little while ago, leading to fresh selling, but has since been regained. The Sensex has been moving in a trading range of 13,700 and 14,300 since the past few weeks and a breakout on closing basis, either way, is likely to provide future direction. The market breadth, which indicates the overall health of the market, continued to remain weak as selling emerged for small-cap and mid-cap stocks. There were around 1.5 losers for every gainer on BSE, with 1,508 shares declining as compared to 986 that advanced. Prices of 108 stocks remained unchanged. The total turnover on BSE amounted to Rs 2971 crore. Among the 30-member Sensex pack, 19 declined while the rest advanced. Meanwhile, the government has not taken any decision to allow foreign direct investment (FDI) in the retail sector, Finance Minister P Chidambaram told the Rajya Sabha today. FDI was only permitted for cash-and-carry, wholesale and single brand retail. FDI inflow of $13.5 billion in 2006-07 was the highest-ever.If retained earning and swap deals were to be included, FDI would be $19 billion. IT major TCS was the top loser, down 2.60% to Rs 1234.85, on renewed selling. TCS, a leading global IT services, business solutions and outsourcing firm, announced its tie-up with Microsoft Corporation to deliver RFID (radio frequency identification) solutions to global companies. It launched an initiative to develop RFID solutions built on Microsoft BizTalk Other shares from the IT pack were not spared either. Infosys (down 1.11% to Rs 1979.90) and Satyam Computers (down 1.20% to Rs 451) also declined Ranbaxy Laboratories gained 0.60% to Rs 391. The pharma major is planning to invest around Rs 60 crore to upgrade the recently acquired Be-Tabs Pharma units in South Africa. With the revamp of the Be-Tabs facilities, the company expects to lead the way for generics manufacturing in South Africa, says a company statement. The acquisition substantially strengthens the basket of products that Ranbaxy brings to the market — especially in the acute and over the counter product streams. Index heavyweight Reliance Industries (RIL) fell 0.23% to Rs 1590 on 4.64 lakh shares. It staged a smart recovery from low of Rs 1577.25 India’s largest commercial banking firm State Bank of India (SBI) advanced 2.82% to Rs 1112.40 on 6.61 lakh shares, and was the top gainer. Bike maker Hero Honda followed with a gain of 2.32% to Rs 694. REL, Tata Steel and ITC also gained close to 0.70% each. TRF jumped 10% to Rs 684.85 after it reported a 147% growth in net profit in Q4 March 2007 to Rs 10.03 crore in Q4 March 2007. Sales rose 78.49% to Rs 141.61 crore. Net profit jumped 185.29% to Rs 20.17 crore in the year ended March 2007. Sales surged 60.33% to Rs 347.20 crore. Gas transmission firm GAIL (India) dropped 3.5% to Rs 282.30 even as it reported a 66.33% growth in net profit in Q4 March 2007 to Rs 680.73 crore as against Rs 409.26 crore in Q4 March 2006. Sales rose 6.11% to Rs 3883.41 crore, from Rs 3659.81 crore. The net profit rose 3.32% to Rs 2386.67 crore in the year ended March 2007 as against Rs 2310.07 crore during the previous year ended March 2006. Sales declined 1.86% to Rs 16047.18 crore, from Rs 16351.29 crore. Mid-Day Multimedia declined nearly 6% to Rs 44.60,extending its fall triggered by the loss in Q4 March 2007. A couple of days back, the company had reported net loss of Rs 2.89 crore in Q4 March 2007 compared to a net loss of Rs 0.36 crore in Q4 March 2006. Net sales rose 12.80% to Rs 27.85 crore (Rs 24.69 crore). Net profit fell 86.40% to Rs 1.10 crore in FY 2007 (year ended March 2007) compared to a net profit of Rs 8.09 crore in the previous financial year. Net sales rose 1.10% to Rs 105.94 crore (Rs 104.34 crore). US stocks closed flat on Tuesday as investors locked in profit after five straight sessions of gains in blue chips, a day before Fed's meeting on interest-rate policy. The Dow Jones industrial average dipped 3.90 points, or 0.03%, to end at 13,309.07, after falling as much as 75 points. The Standard & Poor's 500 Index slipped 1.76 points, or 0.12%, to finish at 1,507.72. But the Nasdaq Composite Index edged up 0.80 point, or 0.03%, to close at 2,571.75. A crucial US Federal Reserve’s meeting today is scheduled in the evening (IST) today. It looks certain that Fed will hold interest rates steady when it meets and will likely restate worries on inflation, even while nodding to weak growth and an easing of price pressures. The US central bank has held the benchmark overnight borrowing costs steady at 5.25% for six consecutive meetings stretching back to August 2006. The Bank of England is seen lifting rates to 5.5% on Thursday, a move that would put British interest rates above those in the US for the first time since January 2006. The European Central bank (ECB) is expected to hold its rates steady at 3.75% on Thursday,10 May 2007, but signal a hike in June 2007. FIIs remained in buying mode on the bourses on Monday, 7 May. FIIs were net buyers of Rs 96.70 crore of equities on Monday, 7 May. Domestic institutional investors were net sellers of Rs 124.54-crore equities on Tuesday, 8 May 2007. Oil prices rebounded to above $65 a barrel on Wednesday, 9 May, as new attacks on Nigeria's oil industry deepened supply losses, interrupting a six-session losing streak that had driven prices to their lowest level since 26 March. London Brent crude was up 6 cents to $65.60 a barrel.
Health Capsule: Do you know what disease Mr. Amitabh Bachchan is suffering?
Answer: Myasthenia gravis, which is a neuromuscular disorder characterized by variable weakness of voluntary muscles, which often improves with rest and worsens with activity. The condition is caused by an abnormal immune response. Causes, incidence, and risk factors: In myasthenia gravis, weakness occurs when the nerve impulse to initiate or sustain movement does not adequately reach the muscle cells. This is caused when immune cells target and attack the body's own cells (an autoimmune response). This immune response produces antibodies that attach to affected areas, preventing muscle cells from receiving chemical messages (neurotransmitters) from the nerve cell. The cause of autoimmune disorders such as myasthenia gravis is unknown. In some cases, myasthenia gravis may be associated with tumors of the thymus (an organ of the immune system). Patients with myasthenia gavis have a higher risk of having other autoimmune disorders like thyrotoxicosis, rheumatoid arthritis, and systemic lupus erythematosus. Myasthenia gravis affects about 3 of every 10,000 people and can affect people at any age. It is most common in young women and older men.
Treatment There is no known cure for myasthenia gravis. However, treatment may result in prolonged periods of remission. Lifestyle adjustments may enable continuation of many activities. Activity should be planned to allow scheduled rest periods. An eye patch may be recommended if double vision is bothersome. Stress and excessive heat exposure should be avoided because they can worsen symptoms. Some medications, such as neostigmine or pyridostigmine, improve the communication between the nerve and the muscle. Prednisone and other medications that suppress the immune response (such as azathioprine or cyclosporine) may be used if symptoms are severe and there is inadequate response to other medications.

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