Chandra Prabhu International Ltd hits the buyer freeze: Refex Refrigerants Ltd recommened to to the Premium Group at Rs.67 hits the circuits before cooling down a bit: Associated Alcohols and Breweries Ltd moves up with good volumes(more than 4 times the average volume) on the news that the company is going to sell Jaipur Distillaries Ltd which could unlock the value of the shares of the company: Minda Industries Ltd recommended to the Premium Group three weeks back in the Sunday report, hit the buyer freeze after good resutls: Suzlon Enegery Ltd was asked to accumulated did well today: Binani Industries Ltd went down after the company declared the results. But one should understand that Binani Industries Ltd is a holding company of at least a dozen companies which are doing excellently well. Its Rs.135 Cr investment in Binani Cements Ltd is giving them Rs.25-Rs.30 Cr per year which is not bad in any sense. Besides, its holdings in Binani Cements(in which it has the controlling stake) is worth around Rs.1600 Cr. Moreover, its group companies BT Composites Ltd, is out of the BIFR net. Its real estate and mining companies are also doing well. Binani Zinc Ltd is also doing well. Hence, I think Binani Industries Ltd should command a price not less Rs.550. The stock should soon see re-rating after some brokerage houses comes up with reports. It is because of the ignorance of the people that the scrip is tradintg so low. Its results does not reflect the true value of the company, as in the last quarter it did not get any dividend income from the group companies which normally comes at the end of any accounting year. However it is looking for some avenues for generating some income on its own. It is looking at a strategic partner for diluting of stake in BT Composites. Overall a very good company trading cheap. Just imagine one day if it goes to sell its holdings in Binani Cements Ltd then it will get Rs.1600 Cr on an equity of mere Rs.29 Cr--just amazing. And then think what will happen if the company decides to sell the stakes of all the group companies and form a separate company. The profits could be thousands of crores of rupees for Binani Industries Ltd: VBC Industries Ltd recommended to the Premium Group hits the buyer freeze. India Bulls Real Estate Ltd recommended to the Premium Group at Rs.520 rose 11.96 % today:

Reliance group shares dominate turnover:

The market rebounded from lower levels to scramble back into positive territory in late-afternoon trade on value buying coupled with short covering at lower levels. Earlier today, 24 October 2007, the market had opened with a bang on continued buying interest in blue-chip stocks tracking firm global markets. But later it slipped in the red on selling pressure. European and Asian markets were trading lower today, 24 October 2007. The market breadth was positive on BSE. Volatility is expected to remain high ahead of the expiry of October 2007 derivatives contracts on Thursday, 25 October 2007. As per market data, yesterday, 23 October 2007, marketwide rollover of derivative positions from the October 2007 series to the November 2007 series was 42%, while the Nifty rollover was 47%. Higher rollovers indicate a bullish undertone. Marketwide rollover from September 2007 derivatives contracts to October 2007 contracts was 84% as compared to rollover of 82.30% from August 2007 contracts to September 2007 contracts. Nifty rollover was 71% as compared to rollover of 70% from August 2007 contracts to September 2007 contracts. This means that the market's bullish mood has moderated. At 14:29 IST, the BSE 30-share Sensex was up 105.86 points, or 0.57%, to 18,595.20. It had opened higher at 18,727.90 and rallied further to strike an intra-day high of 18,832.49 so far during the day before slipping to a low of 18,317.17. The broad market index oscillated in a band of 515.32 points for the day’s trading session. The Sensex’s all-time high of 19,198.66 was struck on 18 October 2007. The broader based S&P CNX Nifty rose 25.35 points, or 0.46%, to 5,499.90. Seventeen of the 30 members of the Sensex pack declined, while the rest gained. The market breadth held positive on BSE: 1,590 scrips had advanced as compared to 1,065 that declined, while 81 remained unchanged. The total turnover on BSE amounted to Rs 6121 crore by 14:30 IST as compared to Rs 4965 crore by 13:30 IST. Reliance Energy, the country’s second largest power utility company by sales, extended early gains and was now up 8.75% to Rs 1656.50 on 28.41 lakh shares. It was the top gainer from the Sensex pack. The stock's rise follows chairman Anil Ambani's briefing to the media after market hours yesterday, 23 October 2007, that Reliance Power will be valued nearly two times its holding company, Reliance Energy, after the mega initial public offer. In its prospectus, Reliance Power has said that it would dilute 11.5% of the post-issue equity. India’s leading bank by net profit State Bank of India jumped 6.13% to Rs 1923.95. After market hours yesterday, 23 October 2007, SBI Life Insurance Company posted net profit of Rs 14.09 crore for the first half year ended 30 September 2007 with an 80% increase in its total premium collection. SBI Life Insurance has become the first private sector life insurance company to make profit. A 74:26 joint venture between the State Bank of India and Cardif, a BNP Paribas company, it manages assets over Rs 6000 crore. Hindalco Industries (up 3.92% to Rs 192.55), HDFC Bank (up 2.10% to Rs 1505), and Tata Steel (up 1.40% to Rs 907.80) were the gainers from the Sensex pack. India's largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) rebounded in the green. It was up 0.82% to Rs 2622.80 on 9.01 lakh shares. It had hit an intra-day high of Rs 2651 in early trade It had also slipped to a low of Rs 2540.25. As part of restructuring exercise, RIL has reportedly decided to hive off Reliance Fresh into a separate company, Ranger Farm, for single point accountability. Reliance Fresh sells food, fruits and vegetables and consumer products. India’s largest oil exploration company by market capitalisation Oil and Natural Gas Corporation slumped 3.69% to Rs 1102, off its day’s low of Rs 1083. It was the top loser from the Sensex pack. The stock had surged 4.28% to Rs 1144.80 yesterday, 23 October 2007, on reports its joint venture firm ONGC-Mittal Energy had acquired a 30% participating interest in an exploration block in the Caspian Sea, Turkmenistan. Tata Motors (down 2.41% to Rs 777), Graim (down 1.53% to Rs 3640), and Infosys (down 1.41% to Rs 1857) were the other losers from the Sensex pack. Shares from the Reliance group dominated the turnover charts on BSE. Reliance Energy was the top traded counter on BSE with turnover of Rs 416.69 crore, followed by Reliance Petroleum (Rs 254.55 crore), Reliance Industries (Rs 227.46 crore), and Reliance Communications (Rs 221.92 crore). Among the side counters, BL Kashyap & Sons (up 20% to Rs 1449), Blue Star (up 20% to Rs 362.15), and Dollex Industries (up 20% to Rs 101.40) surged Parry’s Agro (down 7.85% to Rs 1510), Subex Azure (down 7.14% to Rs 340), and Panasonic Home (down 8.25% to Rs 40.25) declined. Castrol India rose 4.73% to Rs 281.50 on posting a 59.65 % rise in net profit to Rs 54.22 crore on a 3.56% rise in total income to Rs 439.7 crore in Q3 September 2007 over Q3 September 2006.T he company announced the results during market hours today, 24 October 2007. Cairn India soared 6.73% to Rs 204.65 on speculation that UK-based BP Plc may take over its parent Cairn Energy Plc. On successful takeover of parent, the acquirer will have to make a mandatory open offer for a 20% stake in the Indian arm. The Sensex posted its biggest ever-single day point gain of 878.85 points, or 4.99%, to settle at 18,492.84 on Wednesday, 23 October 2007. The broad market index's previous biggest single-day point gain was on 9 October 2007, when it had jumped 788.85 points, or 4.51%, to 18,280.24. The broader S&P CNX Nifty scaled up 289.70 points, or 5.59%, to 5,473.70, on 23 October 2007. The Nifty October 2007 futures settled at 5489.10, a premium of 15.40 points compared to spot closing. Market regulator Securities Exchange Board of India (Sebi), after trading hours on Monday, 22 October 2007, provided partial breather to foreign institutional investors (FIIs) on the proposed restrictions in the use of participatory notes and said it would speed up regulatory clearance for foreigners keen to invest transparently. The minimum networth criterion for a foreign individual investor, who intends to invest directly, is set at $50 million, reports suggested. On 16 October 2007, Sebi had proposed curbs on issuance of offshore derivative instruments (ODIs), also known as participatory (P) notes, based on assets under management of FIIs and prohibited sub-accounts of FIIs from issuing P notes. Its board would meet on 25 October 2007 to take a decision on these proposals. European markets were trading lower today, 23 October 2007. Key benchmark indices from United Kingdom (down 0.01% to 6,514), Germany (down 0.24% to 7,832.62), and France (down 0.12% to 5,698.14), slipped Asian markets reversed early gains to slide in the red today, 24 October 2007. Taiwan Weighted (down 0.63% at 9,442.62), South Korea's Seoul Composite (down 0.75% at 1,93.46), Hong Kong's Hang Seng (down 0.15% at 29,333.53), Singapore's Straits Times (down 1.25% at 3,649.12) and Japan's Nikkei (down 0.56% at 16,358.39), declined Wall Street shares ended with a spurt yesterday, 23 October 2007, as investors uneasy about the economy were reassured by solid earnings from blue chips including Apple and American Express Company. The Dow Jones Industrial Average surged 109.26 points, or 0.81%, to 13,676.23. The Standard & Poor's 500 index rose 13.26 points, or 0.88%, to 1,519.59 while the Nasdaq Composite index gained 45.33 points, or 1.65%, to 2,799.26. The Reserve Bank of India's (RBI) mid-term review of annual policy due on 30 October 2007 and US Federal Reserve’s meeting on 31 October 2007 on interest rates will be key events that will drive the market. As per provisional data, FIIs purchased shares worth a net Rs 390.71 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 37.64 crore on Tuesday, 23 October 2007. New York's main futures contract, light sweet crude for delivery in December, was down 37 cents at $84.90 a barrel, more than five dollars below the record high of $90.07 struck on Friday, 19 October 2007. Brent crude for December delivery slipped 30 cents to $82.55, off its all-time peak of $84.88 hit on Thursday, 18 October 2007.