Zigma Software and Selan Exploration Technologies Ltd:

Those who are holding Zigma Software Ltd and Selan Exploration Technologies Ltd, please continue to hold with respective stop losses.

Zigma is now more of a real estate company, than a software company. Selan Exploration Ltd will take full bloom, in FY2009.

Ansal Buildwell Ltd is expected to do well in the days to come, as the company is coming up with new projects in the days to come. The company is coming up with new projects, in Guwalior, Amritsar, Cochin etc.

Oil Exploration shares surge:

The market stayed weak, as selling pressure continued for index pivotals, with IT stocks leading the fall. It is witnessing rapid movements in see-saw trade after tumbling in the opening session and recovering all the lost ground in early afternoon session. Oil exploration shares were in demand on reports that rig rates have gone up by 10-15% globally. At 14:33 IST, the BSE 30-share Sensex was down 96.86 points to 14,913.32. It opened lower at 14,948.15 and slumped to 14,829.55, following Infosys results and on weak global markets. At the day's low of 14,829.55, the Sensex had shed 180.33 points for the day. The Sensex staged a smart recovery from the day’s low and had crossed into the positive zone, when fresh selling emerged, once again pulling it lower. It struck a high of 15,015.35 at 10:52 IST. The Sensex, thus, swung in a range of 186 points for the day in highly volatile trade. The total turnover on BSE amounted to Rs 4,147 crore as compared to Rs 3,560 crore by 13:30 IST. Among the Sensex pack, 18 declined while the rest advanced IT pivotals were trading weak. All the four of the top five losers from the Sensex were IT stocks. The BSE IT index was down 2.85% to 4,893.52, and was the top loser among the sectoral indices on BSE. It opened lower at 4,990.72 and slipped to a low of 4,864.83. From here it recovered some ground to hit a high of 4,990.72. Infosys Technologies slipped 3.81% to Rs 1,943, on high volumes of 13.40 lakh shares. It was the top traded counter on BSE with turnover of Rs 262.15 crore. Nevertheless, the stock had recovered sharply from the low of Rs 1,925 hit in early trade. It was the top loser from the Sensex pack. The company today revised upwards its EPS guidance for FY 2008 (year ending 31 March 2008) in dollar terms to a growth of 28.4% to 29.7% compared to the earlier guidance of 25.7% to 27.7% growth. It has also slightly raised the revenue guidance in dollar terms to 29% to 31%, from the earlier guidance of a growth of between 28% to 30%. EPS guidance in rupee terms has been cut to reflect a growth of 15.6% to 16.8% compared to the earlier guidance of 20% to 22% growth. It has also reduced the revenue guidance in rupee terms to 16.9% to 18.3%, from the earlier guidance of a growth of 22.6% to 24.6%. Infosys' consolidated net profit as per Indian GAAP was down 5.6% to Rs 1079 crore in Q1 June 2007, from Rs 1,144 crore in Q4 March 2007. Revenue was almost unchanged at Rs 3,773 crore in Q1 June 2007 compared to Rs 3,772 crore in Q4 March 2007. Though trading weak, other IT pivotals, too, had come off their lows after having slipped sharply in early trades. Satyam Computers (down 3% to Rs 482), TCS (down 3.10% to Rs 1,151), and Wipro (down 1.74% to Rs 511.70) edged lower. Mid-Cap IT stocks also declined. Infotech Enterprises (down 0.86% to Rs 382), Mastek (down 0.38% to Rs 285.15), MphasiS (down 2.29% to Rs 307.50), Polaris (down 2.26% to Rs 151.70), and iGate Global Solutions (down 3.55% to Rs 286.40), edged lower tracking frontline peers. Cement stocks advanced on renewed buying. Cement major ACC surged 3.26% to Rs 1070.50 on 3.27 lakh shares, and was the top gainer from Sensex pack. UltraTech Cement Company (up 1.96% to Rs 900), Birla Corporation (up 4.28% to Rs 286.20) and Grasim (up 3.43% to Rs 2820) were the other gainers from the cement pack. Reliance Energy (REL) vaulted 2.82% to Rs 630 on its plans to invest Rs 60,000 crore to add 15,000 mega watts (MW) of power over the next five years. This will boost the company’s generation capacity almost 17 times from 941 MW now. The stocks was also boosted by market rumors that promoters may hike stake in REL by 5%, taking it around to 40% Metal stocks gained on fresh buying. Tata Steel (up 2.54% to Rs 650.50), JSW Steel (up 0.85% to Rs 660), Hindustan Zinc (up 2.75% to Rs 727.30) and Sail (up 0.75% to Rs 137) advanced from the metal pack. Banking stocks slipped today on profit booking. State Bank of India (down 0.35% to Rs 1544.95) and ICICI Bank (down 1.10% to Rs 952.95), slipped HCL Technologies lost 0.62% to Rs 340 on opening of an offshore development centre in Chennai dedicated to Konica Minolta Group. The software services provided by HCL will support the Japanese language in order to communicate accurately with KM's researchers. The contract is of 3 years duration and extendable thereafter every year in which the 5 business companies of KM will outsource product engineering work to the company. HCL expects around $30 million worth of business in 3 years through this deal. Oil exploration shares were in demand on reports that rig rates have gone up by 10-15% globally. Dolphin Offshore (up 3.58% to Rs 288.10), Aban Offshore (up 1.72% to Rs 3070), Selan Exploration (up 6.60% to Rs 104.90) and Seamec (up 5.35% to Rs 246.65), all gained All Asian markets fell today, 10 July 2007, reacting to the sharp overnight fall on the Wall Street. The Japanese market fell, led by exporters such as Toyota Motor Corp. and Sony Corp., as the US dollar weakened against the yen. Japan's Nikkei plunged 1.11% to 18,049.51. Hong Kong's Hang Seng (down 0.64% at 22,739.03), Taiwan's Taiwan Weighted (down 1% at 9,290.95), and Singapore's Straits Times (down 0.61% at 3,598.26) edged lower. However China’s Shanghai Composite outperformed, and was up 0.33% to 3,865.72, after initial fall All the European indices were trading with losses. US stocks fell sharply on Tuesday, 10 July 2007, after investor enthusiasm was hit right at the outset of earnings season after both Home Depot Inc. and Sears Holdings lowered their forecasts. The Dow Jones declined 148.27, or 1.09%, to 13,501.70. Broader stock indicators also dipped. The Standard & Poor's 500 index fell 21.73, or 1.42%, to 1,510.12, while the Nasdaq Composite index lost 30.86, or 1.16%, to 2,639.16. As per provisional data, foreign institutional investors (FIIs) bought shares worth a net Rs 583.02 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 206.70 crore on Tuesday, 10 July 2007.