Ferro Alloys Corporation Ltd, Pondy Oxides and Chemicals Ltd, Deccan Gold Mines, Phoenix International Ltd, BNK Capital Markets, Ennore Coke, NPR Finance Ltd, Sunflag Iron and Steels Ltd and Minda Industries Ltd hit the buyer freeze: Crew Boss Products Ltd recommended around Rs.94, closed at Rs.113 yesterday. Keep holding the counter: Keep adding Sahyadri Industries, Ferro Alloys Corporations Ltd, H S India Ltd, Elnet Technologies Ltd at the CMP: Pondy Oxides and Chemicals Ltd has an immediate target of Rs.42 and then Rs.65 and then Rs.85.

Some Updates on Elnet Technologies Ltd:

Elent Technologies Ltd(ETL) is engaged in providing infrastructure to Software and Business Process Outsourcing Industries. The growth and progress of the company depends directly on the prospects of BPO Industry--which is presently doing well and is expected to do well according to a report published in www.economictimes.com some weeks back. The demand for space is expected to grow from BPO Companies in the days to come as India develops it's IT infrasturture and the US companies looks for cheap alternative to outsource their work. Besides the Company does not have any accumulated losses at the end of the FY07 and has not incurred cash losses during the financial year FY08. Thus ETL's core competence is to develop and manage Software Technology Park. ETL has pioneered the concept of Software Technology Park in India. ETL is a Profit making and Dividend paying Company. It is an ISO 9001 2000 Company Elnet Technologies Ltd holds lease lands worth Rs.11 Cr. It has Windmills (Wind Farms) worth Rs.2.3 Cr at Tenkasi village, Tamil Nadu.

Wind Mill Operations: In FY07, the company generated an income of Rs.48,92,148/-(previous year Rs.52 ,22,190/-) from sale of electricity generated from windmill. The company is in the process of installing some more wind turbines which will substantially increase the capacity of Wind Power Generation.

BUT THE MOST IMPORTANT CRITERION FOR CHOOSING THIS COMPANY OVER DIRECT BPO COMPANIES IS: EARNINGS IN FOREIGN EXCHANGE IS NILL FOR THE COMPANY AND HENCE UNLIKE BPO COMPANIES IT IS NOT EXPOSED TO THE VAGARIES OF THE CURRENCY FLUCTUATIONS--but it's client's revenues might be affected due to currency fluctuations. Last but not the least it is a dividend paying company. I remember in 2006, this company was lying low around the same price to rise suddenly like a phoenix and jump to around Rs.130 in one go. This time also the same thing is expected to happen as the software sector and specially the BPO companies has started to perform.

Besides this it has a book value of Rs.42.33, EPS of Rs.9.88 and P/E of only 8 (software companies have a P/E of 15 plus, if this company to certain extent falls in this catergory--this is ofcourse not a software company nor a real estate company, but a hybrid of the two ). In FY07 it paid a dividend of 18% & this time also there will be not any problem. Due to rupee stabilisation, the software companies are expected to post good results for the Q3FY08 and this will drum up the share price of the company.

The Scrip will at least get appreciated by 50%, in the next 180 days and hence buy in huge quantities or in Bulk. At the CMP of Rs.83, it is damm cheap. If the things go as expected then Rs.200 on the scrip is not impossible within the next 180 days.

Domestic bourses buck weak global equities on strong IIP data:

The market surged to all-time high in late trade, in what was a choppy trading session yesterday The market had lost ground in afternoon trade after staging a rebound from lower level in early trade from an initial slump. IT, banking majors declined. Realty, healthcare and metal stocks gained. Reliance Industries was flat. HDFC and Reliance Communications were the major gainers while Infosys and Satyam Computer Services were major losers from the Sensex pack. The market breadth was strong. BSE Mid-Cap and Small-Cap indices hit all-time highs yesterday and both the indices outperformed Sensex. Edelweiss Capital surged on debut. The Index of Industrial Production (IIP) jumped 11.8% in October 2007 from 4.5% in October 2006. IIP stood at 9.7% in April-October 2007 compared with 10.1% in April-October 2006. Industrial output data for September 2007 was revised upwards to 6.8% from 6.4%. The government released the IIP data early afternoon yesterday, 12 December 2007. European markets, which opened after Indian market, were weak in. Asian markets edged lower yesterday, 12 December 2007, after the US Federal Reserve's small 25 basis points interest rate cut on Tuesday, 11 December 2007, raised worries about US economic growth. Prime Minister Manmohan Singh brushed aside on Tuesday, 11 December 2007, a new threat from his communist allies to force early elections over a controversial nuclear deal with the United States. In the government's first reaction to a call by the leader of the largest left-wing party for talks on the deal to be stopped, Singh said he would stick to a plan conditionally approved by the communists earlier to push the landmark pact. The 30-share BSE Sensex rose 84.98 points or 0.42% to 20,375.87. Sensex hit all-time high of 20,419.11 in late trade. At day's high, Sensex rose 128.22 points. Sensex had slipped to a low of 20,045.42 in early trade. At day’s low Sensex had lost 245.47 points. The broader S&P CNX Nifty rose 62.05 points or 1.02% at 6,159.30. It hit all-time high of 6,175.65 yesterday in late trade. Market breadth was strong. On BSE, 2,108 stocks advanced, 749 stocks declined and 28 stocks remained unchanged. 18 out of 30 stocks from the Sensex pack were in green. BSE clocked a turnover of Rs 8922 crore, compared to Tuesday, 11 December 2007's Rs 8,227.36 crore. Nifty December 2007 futures were at 6177, at a premium of 17.70 points as compared to the spot closing of 6159.30. The NSE's futures & options (F&O) segment turnover was Rs 71,385.36 crore, which was higher than Rs 59,421.97 crore on Tuesday, 11 December 2007. The BSE Mid-Cap index rose 1.66% to 9,338.49. It hit a all time high of 9,345.16 yesterday. BSE Small-Cap index rose 1.86% to 11,884.99. It hit a all-time high of 11,899.96 yesterday. Both these indices outperformed Sensex. BSE Auto index (up 0.15% to 5,770.02), BSE Power (up 0.36% to 4,539.86), BSE Capital Goods index (up 0.04% to 20,308.27), BSE Bankex (down 0.57% to 11,712.12) and BSE IT index (down 1.78% to 4,353.59) underperformed Sensex. BSE FMCG index (up 0.92% to 2,189.52), BSE Oil & Gas index (up 1.44% to 13,152.02), BSE PSU index (up 1.58% to 10,245.58), BSE Health Care index (up 2.75% to 4,173.98), BSE Realty index (up 2.94% to 12,540.32) and BSE Metal index (up 3.01% to 19,629.07) outperformed Sensex. India’s largest private sector firm by market capitalization & oil refiner Reliance Industries rose 0.28% to Rs 2,886.90. The company said on Tuesday, 11 December 2007, it has signed exploration and production contracts with Colombia's Agencia Nacional de Hydrocarburos for two offshore blocks, Borojo North and Borojo South. Banking stocks declined. ICICI Bank (down 1.96% to Rs 1,290.30) and State Bank of India (down 0.22% to Rs 2,440.40) edged lower. Interest rates in India are unlikely to come down in the short to medium term, T.S. Bhattacharyya, managing director of State Bank of India said yesterday. HDFC Bank rose 0.52% to Rs 1,784. IT pivotals were mixed. Infosys (down 3.34% to Rs 1,684.80), Satyam Computer Services (down 2.39% to Rs 431.15) edged lower. Wipro (up 0.08% to Rs 505.55) and Tata Consultancy Services (up 0.94% to Rs 1,049) edged higher. Healthcare stocks advanced in late trade. Cipla (up 2.36% to Rs 199.55), Ranbaxy Laboratories (up 0.63% to Rs 407.70) and Dr. Reddy’s Laboratories (up 1.75% to Rs 685.80) edged higher. Realty stocks rose. Hosing Development & Infrastructure (up 14.01% to Rs 978.30), Ansal Properties & Infrastucture (up 22.38% to Rs 418.35), Indiabulls Real Estate (up 3.19% to Rs 746.55) Unitech (up 1.28% to Rs 485.95), and DLF (up 0.74% to Rs 1,021.10) edged higher. Metal stocks surged in late trade. Tata Steel rose 3.42% to Rs 864.45. The company yesterday said it has signed a joint venture agreement with state-run mineral development company SODEMI for the development of Mount Nimba iron ore deposits in Ivory Coast, West Africa. Jindal Saw (up 12.35% to Rs 1,036.45), Shree Precoated Steel (up 3.67% to Rs 395.15), National aluminium Company (up 11.54% to Rs 451.45), Hindalco Industries (up 3.06% to Rs 205.65), Steel Authority of India (up 3.85% to Rs 287.55) edged higher. HDFC (up 5.33% to Rs 3,103.95), Reliance Communications (up 3.51% to Rs 765.75), NTPC (up 3.21% to Rs 251) edged higher. Bharat Heavy Electricals declined 0.82% to Rs 2,648.35. Reliance Energy declined 0.72% to Rs 1,931.70. It has bagged an engineering, procurement and construction (EPC) contract from Damodar Valley Corporation (DVC) to set up a coal based power station at Raghunathpur in West Bengal. The contract is valued at over Rs 3,725 crore. The EPC Group of Reliance Energy currently has orders on hand for execution aggregating over Rs 10,000 crore. IKF Technologies rose 20% to Rs 11.38. It clocked the highest volume of 3.97 crore shares on BSE. G V Films clocked the second highest volume of 3.86 crore shares. It rose 18.03% to Rs 9.10. Tata Teleservices (Maharashtra) rose 2.74% to Rs 60. It clocked the third highest volume of 2.53 crore shares. Ispat Industries rose 1.48% to Rs 71.80. It clocked the fourth highest volume of 1.54 crore shares. Gujarat State Petronet rose 14.13% to Rs 96.50. It clocked the fifth highest volume of 1.52 crore shares on BSE. Essar Oil clocked the highest turnover of Rs 315.32 crore on BSE. Reliance Natural Resources (Rs 256.48 crore), Reliance Petroleum (Rs 178.07 crore), Jindal Steel (Rs 173.25 crore) and Lanco Infratech (Rs 156.73 crore) were other turnover toppers on BSE in that order. Edelweiss Capital ended at Rs 1,509.95 on BSE, a premium of 83.02% compared to IPO price of Rs 825. On BSE, 36.16 lakh shares changed hands in the counter. The stock debuted at Rs 1443.75, a premium of 75% as compared to the issue price of Rs 825. In an important event, after Indian market hours yesterday, 11 December 2007, the US Federal Reserve lowered its benchmark interest rate by a quarter point to 4.25%, while signaling that it is open to further cuts if the housing slump and credit squeeze worsens. The Fed also lowered its discount rate, the interest it charges on direct loans it makes to banks, by a quarter-point to 4.75%. European markets slipped yesterday. France’s CAC 40 (down 1.25% to 5,653.29), Germany’s DAX (down 0.6% to 7,961.18) and UK’s FTSE 100 (down 0.85% to 6,480.80) edged lower. Asian markets were weak yesterday, 12 December 2007. Hong Kong's Hang Seng (down 2.41% at 28,521.06), Japan's Nikkei (down 0.7% at 15,932.26), Taiwan's Taiwan Weighted (down 1.71% points at 8,490.84), Straits Times (down 1.11% at 3,549.25) and Shanghai Composite (down 1.54% to 5,096.59), all edged lower. South Korea's Seoul Composite (up 0.12% 1,927.45) edged higher. US markets tumbled after the Fed cut rates by a quarter point disappointing traders expecting double that amount. The Fed's statement said that elevated energy and commodity prices may put upward pressure on inflation. The Dow Jones Industrial Average slumped 294.26 points, or 2.14%, to 13,432.77. The Standard & Poor's 500 index plunged 38.31 points, or 2.53%, to 1,477.65, and the Nasdaq Composite index declined 66.60 points, or 2.45%, to 2,652.35. [With inputs from the Internet]