Aluminium producers demand safeguard duty on imports

BHUBANESHWAR, 6 Oct, 2015: Domestic aluminium producers such as Vedanta, Hindalco and Nalco are urging the government to impose a safeguard duty on aluminium imports as was done in the case of some steel products, due to falling international prices and increasing production costs.

Aluminium Association India (AAI) representatives plan to meet revenue secretary Hasmukh Adhia on Friday to push their case.

"We are confident of taking up our case of safeguard duty on specific aluminium products, which is in line with what the government has done for the steel industry," said Abhijit Pati, CEO at Vedanta Aluminium.

The Narendra Modi government had recently imposed a 20% provisional safeguard duty on hot-rolled flat steel products for 200 days.

AAI said aluminium deserves to be treated as a core industry, at par with steel. At present, imports account for 55% of aluminium consumption in the country. Prices of the aluminium on the London Metal Exchange had fallen 42% since its peak in April 2011 to $1,540 a tonne in August, according to data shared by the association.

At the same time, cost of production for AAI members has risen 29%.

Vedanta has already shut down a rolling mill of Balco in Chhattisgarh due to lack of availability of viable bauxite supply. Its Odisha refinery, currently running at half its capacity, too could be shut down if things don't improve, officials said.

Vedanta group CEO Tom Albanese, Hindalco deputy MD Satish Pai and state-run Nalco CMD T K Chand had met finance minister Arun Jaitley last month and sought doubling of import duty on all aluminium products to 10% from 5% now.

They had said that while they had invested Rs 1.2 lakh crore to ramp up capacity almost 50% of their installed capacity was lying idle even as their combined debt stood at Rs 70,000 crore.

However, despite aluminium producers' meetings with officials of finance ministry, mines ministry and the Central Board of Excise and Customs, import duty on the metal has yet to be raised.

Courtesy: The Economic Times

Profit booking at higher levels gives the Indices modest gains; banks rebound: Vamshi Rubber hits the buyer Freeze before cooling down a bit, due to fall in rubber prices: Yesterday's Call in some Yahoo Groups: Hindustan Zinc was up 1.05% to Rs 673 while Bharat Seats Hits the buyer Freeze :Volatility to continue:

Shares from the banking sector were in demand, after suffering a sharp decline in the past few sessions following the surprise hike in the cash reserve ratio (CRR) by the Reserve Bank of India last week. The 30-shares BSE Sensex settled 47.35 points, at 14,402.90. It had opened higher, at 14,436.18, tracking the 345-point surge of Friday (16 February 2007). The BSE benchmark had surged to a fresh high of 14,479.18, and also stooped to a low of 14,372.07. After staying firm throughout the day, the market looked appeared to tire in the late-afternoon session. Profit-booking in index pivotals capped gains. The S&P CNX Nifty settled up 16.45 points, at 4,162.65. The total turnover on BSE amounted to Rs 4204 crore. The market-breadth, a measure of the overall market strength, was just about positive, although not as much as it was earlier in the session. Broad-based participation from small-cap as well as mid-cap stocks was the add-on feature of today's trade. Against 1,340 shares advancing, 1,303 declined on BSE. As many as 56 scrips remained unchanged. Among the 30-Sensex pack, 16 declined while the rest advanced. Private sector ICICI Bank was the top gainer, up 3.12% to Rs 978, on a volume of 3.18 lakh shares. The scrip had surged from a low of Rs 943.30, its high being Rs 986.50. Maruti Udyog advanced 2.56% to Rs 914.70, following a cut in petrol and diesel prices last week. IT major TCS gained 1.53% to Rs 1310, as buying continued after the software exporter bagged an overseas order last week. Tata Steel (up 1.11% to Rs 447), ITC (up 0.66% to Rs 175), and SBI (up 0.52% to Rs 1129) were the other gainers. Index heavyweight Reliance Industries (RIL) advanced 0.72% to Rs 1417, on a volume of 5.77 lakh shares. Reliance Industries said on Thursday, its board will meet on 24 February 2007 to review plans to raise $2 billion, and consider possibilities for generating more funds to finance its interests. The private sector oil refiner had also struck a high of Rs 1430. Ranbaxy Laboratories was down 0.64% to Rs 391, after it said federal officials conducted a search of the Indian drugmaker's US corporate offices in Princeton, New Jersey, on Wednesday. Ranbaxy, in a statement issued on Thursday, said the search came "as a surprise," and the company was not aware of any wrongdoing. Hero Honda was the top loser, down 3.71% to Rs 716, on a volume of 38201 shares. It had slipped from a high of Rs 753.95. Gujarat Ambuja Cements (down 3% to Rs 132.40), Hindalco (down 2.31% to Rs 148), and Reliance Communications (down 1.37% to Rs 460.10) were the other big losers. L&T declined 0.12% to Rs 1690, after striking a high of Rs 1717.90. The engineering and construction company said on Monday it had secured a $ 250 million contract to set up offshore platforms and related amenities. The banking sector was on fire. The BSE Bankex advanced 1.48%, and was the top gainer among BSE's sectoral indices. Centurion Bank of Punjab (up 3.49% to Rs 37.10), Oriental Bank of Commerce (up 2.75% to Rs 228.80), Kotak Mahindra Bank (up 2.21% to Rs 493), Federal Bank (up 1.69% to Rs 240), Canara Bank (up 0.79% to Rs 218), and SBI (up 0.52% to Rs 1129), were the other gainers from the banking space. Metal shares saw renewed buying, tracking a rally in Japanese steel shares, which advanced on expectations of a further consolidation within the metal sector. The steel sector had undergone global mergers & acquisitions, which should help support global steel prices. In January 2007, Tata Steel won the bid for Anglo-Dutch steel major, Corus and Hindalco’s acquisition of US-based Novelis. State-run Steel Authority of India (Sail) surged 5% to Rs 119.30. Ispat Industries (up 4.14% to Rs 15.10), Jindal Steel & Power (up 3.33% to Rs 2450), Sterlite Industries (up 1.10% to Rs 502), and Hindustan Zinc (up 1.05% to Rs 673) were the other gainers. ABB gained 2.61% to Rs 3900, but was down from a high of Rs 4000. The company announced 42.6% growth in net profit in the December 2006 quarter along with a 5-for-1 stock-split. ABB has reported 42.6% growth in net profit in the December 2006 quarter to Rs 134.95 crore from Rs 94.61 crore in the December 2005 quarter. Income from operations surged 44.6% to Rs 1426.31 crore (Rs 985.72 crore). ABB India had a record order intake during the year (year ended 31 December 2006), up 50%, at Rs 5,623.60 crore compared to Rs 3,764.50 crore last year. The record growth in order intake helped ABB India to increase its order backlog to Rs 3,372.30 crore, nearly 60% higher than the order backlog of Rs 2,103.20 crore at the beginning of the year. ABB India plans to invest Rs 250 crore over the next two years to set up new factories, augment existing capacities and foray into new areas. The company will set up factories in Delhi, Baroda, Nasik, Mumbai and parts of Karnataka. Aban Offshore, the largest private offshore oil drilling company, surged nearly 8% to Rs 1941, after its unit completed an open offer for Norwegian peer, Sinvest. Post the open offer, Aban Offshore group's stake in Sinvest has moved up to 97%. Bajaj Electricals surged 16.74% to Rs 501, after the company said it is in advanced stage of negotiations to acquire an electrical firm based in western India. The acquisition will be finalised in the next one-and-a-half months. Bajaj Electricals is eyeing companies with weak financials but strong manufacturing, and product lines. The deal size could be up to Rs 100 crore, Chairman and Managing Director, Bajaj Electricals, Shekhar Bajaj, told newspersons at a meeting in Kolkata on Friday (16 February 2007). Lokesh Machines gained 10% to Rs 148.30, after it informed it had received an order worth Rs 20 crore from Germany's Wenig Wemas. Lokesh Machines has designed and manufactured prototypes of CNC Lathe and CNC Vertical Machining Centre as per specifications of German machine tools giant, Wenig Wemas (Wenig), and its associates in Europe. Telecom networking and systems integrator Spanco Telesystems surged 4.4% to Rs 220.15, after deciding to raise Rs 125 crore by issuing shares and warrants to ChrysCapital and UTI Investment Advisory. The price for the preferential allotment has been fixed at Rs 214.91 a piece, which includes a premium of Rs 204.91. The stock shrugged off worries of equity dilution following the issue. Assuming full conversion of warrants, the preferential allotment will lead to a substantial 35.8% dilution of equity. The order from Wenig is initially for supplying 100 machines, dispatches scheduled to begin in April. The off-take could increase to 300 machines a year in the next three years. Biocon surged 5.77% to Rs 464, on news that the firm plans to invest Rs 1000 crore in setting up a bio-pharma plant in Andhra. The bio-pharma plant will come up at the special economic zone (SEZ) near the port city of Visakhapatnam. Andhra Pradesh Chief Minister, Y S Rajasekhara Reddy, on Friday (16 February 2007), handed over the land needed for the plant to Biocon Chairman, Kiran Mazumdar Shaw. Avaya GlobalConnect jumped 20% to Rs 322.20 on a volume of 5.13 lakh shares. It said on Thursday (15 February 2007) that a growth fund of Reliance mutual fund purchased a further 3.51% stake in the company, taking the fund's total holding to 6.13%. The stock had risen 3.7% on that day itself, boosted by the announcement, to Rs 268.50. The stock is up 32.1% from a recent low of Rs 210.65 on 10 January 2007. Drugmaker Krebs Biochemicals & Industries rose by 5%, the maximum daily limit, to Rs 85.70, after the firm said its board will meet on 22 February 2007 to consider issuing 10.5 lakh shares to Ranbaxy Laboratories. Power utility company, CESC, surged 7% to Rs 366.85 on renewed buying at the lower level after a recent correction. CESC is currently in the process of screening bids to kickstart the scrap sale of its idle plant and machinery assets at its locked Mulajore generating station at Kolkata. CESC has just received a set of bids from companies keen to take over the Mulajore assets. CESC's vintage Mulajore power station was shut down on 15 May 2004. Following the sale of the Mulajore plant and machinery, the 43-odd acres of land will be used to set up an industrial-cum-residential township venture to be executed by CESC Properties, a wholly-owned CESC subsidiary. Most global markets were trading strong. The Nikkei average rose 0.24% on Monday, to trade at its highest in nearly seven years as retail stocks jumped on expectations of industry consolidation after Daimaru said it was considering a tie-up with Matsuzakaya Holdings Co. The Nikkei average rose 42.59 points to 17,918.24 on Monday, its highest since May 2000. It rose as high as 17,931.70 earlier in the day. The Hang Seng index was up 29.49 points (0.14%), at 20,567.91. Volatility, however, may accentuate this week ahead of the expiry of this month's derivative contracts on 22 February 2007. As per the latest data, NSE's total F&O open interest increased by Rs 1,939 crore to Rs 61,745 crore, of which futures open interest has gone up by Rs 1,136 crore, while the options open interest rose by Rs 803 crore. Marketwide rollover was at 18%, while the Nifty rollover was 28%. FIIs have resumed buying. Foreign funds were net buyers to the tune of Rs 210.50 crore on 14 February 2007. FIIs had stepped up buying since February 2007 before the inflow slowed down. They turned net sellers on 13 February 2007. FII inflow was a robust Rs 2909.90 crore between 2 February and 8 February. The strong inflow was triggered by an upgrade in India's sovereign rating to investment grade by global ratings agency, Standard & Poor's, on 30 January 2007. The near-term trend on the bourses will be driven by budget expectations. The focus of the market will be more on sectors, which are expected to benefit from the budget proposals. Most Asian markets are closed for the Lunar New Year holidays. Taiwan and China are closed for the entire week, while Hong Kong and Singapore are shut on Monday and Tuesday. South Korea, Malaysia, and the US markets are also closed on Monday. The blue-chip Dow Jones industrial average edged up on Friday (16 February) to end at yet another record before a three-day holiday weekend. The Dow Jones industrial average rose 2.56 points, or 0.02%, to end at a record 12,767.57. The Standard & Poor's 500 Index slipped 1.27 points, or 0.09%, to finish at 1,455.54. The Nasdaq Composite Index dipped 0.79 of a point, or 0.03%, to close at 2,496.31. In New York, on Friday, oil futures prices jumped more than $1 to end above $59 a barrel as traders covered some short positions before the President's Day holiday (Monday), when NYMEX and US financial markets remain closed. More unrest in OPEC member, Nigeria, also lifted oil prices. [From Internet]

Kanishk Steel Industries Ltd recommended some days back, hits the buyer freeze...But why? Ask the Premium Group Members: Southern Online Bio Tech hit another freeze....Now what to do? What to do with FCS Software Ltd at this price? Ask Premium Group members: Monday's recommended scrip to the Premium Group members hit second freeze yesterday: Yesterday I recommended another newly BSE listed scrip to the Premium Group members, which is expected to do well in the days to come, due to summer season. Today it rose to Rs.69, before cooling down a bit: What to do with Metalman Industries Ltd now? Ask the Premium Group members:Pochiraju Industries Ltd has started production of Bulk Drugs in Beachuapally, Hyderabad. Keep buying the scrip as it is highly undervalued as compared to its peer, Karuturi Networks Ltd. The scrip once it closes above Rs.26, with good volumes, will shoot. The Bollinger Band Patterns, have already started to give some buy signals, though not completely. I have some more breaking news on this company, which will only be disclosed to Premium Group Memebers for the time being: Meanwhile, in the US, Wall Street Wall Street extended its retreat Tuesday as investors grew more uneasy about the economy and found little to assuage their concerns in minutes from the Federal Reserve's last meeting. In midafternoon trading, the Dow fell 163.88, or 1.23 percent, to 13,158.25. Broader stock indicators were also lower. The Standard & Poor's 500 index was down 19.12, or 1.30 percent, at 1,447.67, and the Nasdaq composite index shed 34.46, or 1.35 percent, to 2,526.79, till the report last came in:

Market extends gains on Tuesday:

The market settled with decent gains as buying emerged for index pivotals. IT pivotals led the rally along with index heavyweight Reliance Industries (RIL). Yet, weak global markets capped upside. On the flip side, value buying coupled with short covering provided support at lower level. Asian markets settled on mixed note today, 28 August 2007. Some of these markets recovered from initial weakness. However, all European markets were trading lower. US markets closed lower on Monday, 27 August 2007. The BSE 30-share Sensex gained 76.81 points or 0.52% at 14,919.19. It had opened slightly lower at 14,841.61 and slipped further to hit a low of 14,751.68, in early trade. However it rebounded from lower levels to hit a high of 14,952.04 at 15:12 IST. From the recent low of 13,989.11 on 21 August 2007, the Sensex has recovered 930 points or 6.65% at current 14,919.19 The S&P CNX Nifty rose 18.10 points or 0.42% at 4320.70. The Nifty August 2007 futures settled at 4298.80, a discount of 21.90 points as compared to spot closing The total turnover on BSE amounted to Rs 4096 crore as against Rs 4,017.17 crore on Monday, 27 August 2007. The NSE F&O turnover was Rs 57,340.78 crore as compared to Rs 52749.11 crore on Monday, 27 August 2007. The market breadth was strong on BSE, with 1593 shares advancing as compared to 1061 that declined, while 75 remained unchanged. The BSE Mid-Cap index rose 0.77% to 6,409.64 while the BSE Small-Cap index settled with gain of 1.07% to 7,808.44. Both these indices outperformed the Sensex. Volatility is expected to remain high in the next three days ahead of the expiry of derivatives contracts for August 2007 series on Thursday, 30 August 2007. Among the 30-member Sensex pack, 19 rose while the rest declined. India’s largest aluminium manufacturer Hindalco Industries advanced 3.10% to Rs 153 on 12.08 lakh shares. It was the top gainer from the Sensex pack. As per recent reports it plans to make inroads into supplies for the car market which has so far been dominated by steel manufacturers. Hindalco will soon make high-grade aluminium products for the body-in-white segment for cars. Other metal counters, Tata Steel (up 0.50% to Rs 606), Hindustan Zinc (up 1.68% to Rs 697), and Sail (up 2.61% to Rs 153.35), also edged higher. The BSE Metal Index rose 1.04% to 10,748.27 IT pivotals made a comeback today, as rupee weakened against the dollar. Satyam Computers (up 2.10% to Rs 448) and Infosys (up 1.72% to Rs 1880), gained from IT pack. The BSE IT Index gained 1.91% at 4,558.76, and was the top gainer among the sectoral indices on BSE TCS, the country’s largest software services exporter rose 0.13% to Rs 1027, on reports it had signed a multi-year contract with Hawaiian Airlines to provide IT, business process outsourcing and infrastructure services. Reports suggest that the deal may be worth about $40 million. India’s third largest software services exporter Wipro gained 0.11% to Rs 465.05 on reports that it plans to open a software development center in the US city of Atlanta that will employ mostly graduates from colleges and universities in the state of Georgia. The Atlanta facility will hire more than 200 people in the first year, and is expected to employ over 500 by the third year of operations. Financial Technologies (up 10% to Rs 2300), HCL Technologies (up 2.88% to Rs 293) and Tech Mahindra (up 1.57% to Rs 120.50), gained from mid-cap IT pack. Rupee was hovering at 41.17 as against yesterday's close of 41.01/41.02. India’s largest private sector entity in terms of market capitalisation and oil refiner Reliance Industries soared to a high of Rs 1890. It settled 2.80% higher to Rs 1884.25 on 8.15 lakh shares. Reliance Industries (RIL) is reportedly entering into an alliance with Container Corporation of India (Concor), the country’s largest container train operator. Under the partnership, RIL will have access to several infrastructural facilities of Concor, including almost 60 terminals across the country. RIL intends to utilise these facilities as key warehousing points for Reliance Retail. BSE Oil and Gas Index gained 1.5% at 7,839.17 FMCG stocks were in demand on fresh buying. The BSE FMCG Index gained 0.98% at 1,930.93. ITC (up 1.40% to Rs 167.35), Marico (up 3.11% to Rs 59.70), Britannia (up 0.30% to Rs 1590), and Nirma (up 1.46% to Rs 160), gained from FMCG pack. Larsen & Toubro (L&T) rose 0.30% to Rs 2543 after L&T Capital Company, its group company invested around Rs 100 crore for a stake in Mysore based Rangsons Electronics, an electronic manufacturing services (EMS) provider. India’s third largest pharma company in terms of net sales, Cipla was up 0.15% to Rs 170.55 on reports that company will replace all products with chlorofluorocarbons ahead of Montreal Protocol ban deadline. ICICI Bank, the country’s largest private sector bank in terms of net profit, extended early fall. It lost 2.89% to Rs 858.20 on 11.72 lakh shares. It was the top loser from Sensex pack. The bank got a setback today, after the Reserve Bank of India made a strong case against intermediate holding companies to float holding companies for their insurance and mutual fund business. The regulator said any clearance for foreign investment in such a holding company by other regulators could be subject to “legal review”. State Bank of India, the country’s largest bank in terms of net profit slipped to a low of Rs 1527 in early trade. However it recovered from lower levels and ended 0.10% lower at Rs 1555.50. Led by ICICI Bank and SBI, Bankex fell 0.25% to 7,636.21, and was the top loser among the sectoral indices on BSE. India’s largest listed cellular services provider Bharti Airtel declined 0.34% to Rs 874. As per reports, the Telecom Regulatory and Development Authority (Trai) has alleged that the company had violated the national numbering plan that designates short codes and numbers for value-added services. It has asked the company to immediately discontinue some services. Ranbaxy laboratories (down 1.51% to Rs 365.25), ACC (down 1.40% to Rs 1022.40), and ONGC (down 1.13% to Rs 808.90) were the other losers from Sensex pack. Sugar shares advanced in volatile market on renewed buying interest. Shree Renuka Sugars (up 2.82% to Rs 486.20), Bajaj Hindustan (up 2.90% to Rs 127.70), Sakthi Sugar (up 3% to Rs 64.40), and Mawana Sugar (up 5.80% to Rs 26.45), advanced. Bajaj Hindustan got a boost from reports that it will clinch an export deal for 60 lakh litres of rectified spirit from Japan. K P R Mill settled at Rs 173.50 on the BSE, a discount of 22.89% as compared to IPO price of Rs 225. On BSE, 49.21 lakh shares of the scrip were traded. The stock had debuted at Rs 201.20 on BSE, a discount of 10.57% over the IPO price. It had hit a high of Rs 209.80 and a low of Rs 169.10. Hindustan Motors surged 20% to Rs 29.75 on reports it plans to launch premium sports utility vehicles from the Mitsubishi stable in the price range of Rs 15-25 lakh within six months. The decision follows a surge in sales of Mitsubishi’s Pajero and Montero models during 2006-07. The SUVs will be manufactured at the company's Chennai plant. Karnataka Bank was up 1.64% to Rs 179.50. As per reports, the bank has put its asset management joint venture on hold. The bank would need capital to fund its projected business growth of 20-22% and also for the non-life insurance joint venture. Reports also suggest that the bank is planning to enter into online broking in a tie-up with an established broking firm. Vikas WSP, which was relisted yesterday, 27 August 2007, jumped 5% to Rs 38.03 today. It was suspended from trading on the BSE on 1 October 2001. As per reports, it has lined up Rs 735 crore for capital expenditure. Federal-Mogul Goetze (India) surged 7.70% to Rs 171.25 after company approved rights issue aggregating Rs 106.33 crore. Its board of directors approved rights issue of 73.33 lakh equity shares of Rs 10 each at an issue price of Rs 145 per equity share (including a premium of Rs 135 per equity share) aggregating Rs 106.33 crore. The rights issue will be in the ratio of 29:100 (29 equity shares for every 100 equity shares held). Automobile batteries-maker Exide Industries jumped 6.65% to Rs 60.15. The company’s board has approved a rights issue of up to 5 crore equity shares in the ratio of 1:15 (that is, one share for every 15 shares held), priced at Rs at Rs 30 per equity share. GMR Infrastructure, which develops various infrastructure projects, moved up 6.46% to Rs 797.25. On Monday, 27 August 2007, the company's subsidiary GMR Energy secured a major hydropower project in Himachal Pradesh, after it paid the state government Rs 82 crore as premium upfront money. IT solutions provider i-flex Solutions spurted 5.13% to Rs 2014.45. Recently, its Dutch unit, i-flex Solutions BV, had raised its stake in Greek unit i-flex Solutions SA to 90%. The Greek unit was incorporated in May 2007 with an investment of 35% by i-flex Solutions BV. Nicholas Piramal India surged 3.93% to Rs 257.70 after it announced that its board will consider proposal for restructuring the company's research & development division by demerging its new chemical entity (NCE) research unit into a separate entity. The board meeting will be held on 31 August 2007. Modern Dairies hit 5% upper circuit of Rs 95.05 on BSE after it fixed 1 October 2007 as record date for issue the 1:1 bonus shares. UTV jumped 4.92% to Rs 485.95 on reports that it is in talks to rope in a strategic investor for its broadcasting business, which entails an investment of Rs 600 crore for nine channels. The broadcasting initiatives are under UTV Global Broadcasting which is privately held. UTV Global Broadcasting has three subsidiary companies which run the different lines of businesses. Nagarjuna Fertilisers slipped 1.47% to Rs 33.60 after the National Stock Exchange (NSE) barred further F&O positions in the stock as 95% marketwide position limit was crossed on Monday, 27 August 2007. Centurion Bank of Punjab rose 0.91% to Rs 38.80 after the private sector bank got Reserve Bank of India's approval for the merger of Lord Krishna Bank with it. The merger is effective from 29 August 2007 and Centurion will issue seven shares in itself for every five held in Lord Krishna, the bank said. Mold-Tek Technologies was locked at upper limit of 5% at Rs 131.90 after its board approved to de-merge plastic business and merge Teck Men Tools with itself. Auto ancillary maker Perfect Circle India jumped 5% to Rs 26.70 after it said during market hours on Monday, 27 August 2007, that acquirer Asia Investments has accepted delisting price of Rs 35 per share for acquiring balance stake of 15.70% from the public, as discovered in the reverse book building process which closed on 24 August 2007. All European markets were trading weak today, 28 August 2007. Key benchmark indices in France (down 0.98% to 5,535.51), Germany (down 0.38% to 7,457.54) and United Kingdom (down 0.71% to 6,176) declined. Asian markets settled on a mixed note today, 28 August 2007. South Korea's Seoul Composite (up 1.46% at 1,829.31), Taiwan Weighted (up 0.11% at 8,727.55) and Shanghai Composite (up 0.87% to 5,194.68) rose. Hang Seng (down 0.91% at 23,363.76), Singapore's Straits Times (down 1.34% at 3,343) and Japan's Nikkei (down 0.09% at 16,287.49) slipped. US shares slipped yesterday, 27 August 2007 after news that sales of existing homes slipped in July 2007 for a fifth straight month stirred concerns about the strength of the economy. The Dow Jones industrial Average fell 56.74 points, or 0.42%, to 13,322.13. Broader stock indicators also declined. The Standard & Poor's 500 index fell 12.58 points, or 0.85%, to 1,466.79, and the Nasdaq Composite index fell 15.44 points, or 0.60%, to 2,561.25. Crude oil prices were steady at above $72 on Tuesday, 28 August 2007, with US refinery shutdowns reviving supply concerns. US crude rose 6 cents to $72.03 a barrel. London Brent gained 7 cents to $71.02 a barrel. The UPA government and the Left parties, on Monday 27 August 2007, agreed to formalise a joint mechanism to address the latter’s objections on the civil nuclear deal with the US. But the Left’s main demand of not proceeding with International Atomic Energy Agency (IAEA) negotiations remained unresolved, even after a series of high-profile meetings between the two sides, reports suggest. In a meeting of government with the Left party leaders held on Monday, 27 August 2007, Left parties reiterated their that they would agree to participate in the mechanism, but the government shouldn't go ahead with next round of IAEA negotiations. The proposed mechanism in the form of a committee will also decide how long the government will stall IAEA negotiations. However, the government has refused to give any time frame for the committee to finish its work The Left Front’s opposition to the nuclear deal with US had stoked concerns over the past few days that if the Communist allies of the ruling coalition government at the Centre decide to pull their support, the government will be reduced to a minority, triggering fresh elections. Note: The last date to get enrolled for the Premium (Paid) Membership with the Introductory Offer, Expires on 31st, August, 2007. From 1st September, 2007, this Package will be available at a Revised Price Tag. Hence rush in ur queries to enroll at suman2005s@rediffmail.com & suman_2004s@yahoo.co.uk.

Also,the Premium Group member having e-mail as: boppanardevi@rediffmail.com, contact me immediately/urgently, as the mails are getting bounced from the mail box( i.e. my mails are not reaching you).

IT pivotals stay weak: The large caps to move sideways for some more days: Keep buying good small and mid cap counters:

TIT pivotals stayed weak, as they did in the past few weeks, as selling continued. The Indian rupee headed towards last week's nine-year high on Monday, 4 June 2007, spurred by capital inflows and positive cues from most Asian currencies, but dealers trod carefully on fears of provoking central bank intervention. At 9:45 IST, the partially convertible rupee was at 40.477/487 per dollar, up from Friday's finish of 40.5450/5500. It hit 40.28 early last week -- its strongest level since May 1998 -- but was quickly pushed back to 40.50 by suspected intervention. The rupee is Asia's best performing currency against the dollar this year. It has gained about 9%, driven largely by strong capital inflows into the fast-growing economy. Satyam Computers (down 1.60% to Rs 470.50), TCS (down 0.25% to Rs 1216), Infosys (down 0.80% to Rs 1925) and Wipro (down 0.90% to Rs 539.30) gained. IT stock have not performed in the market's surge due to stronger rupee. A rise in the rupee directly impacts revenue and profit of IT firms, which derive a lion’s share of revenue from exports to the US. Meanwhile, the benchmark index, BSE Sensex, which had surged above the 14,650 level in opening session, slipped in negative zone as profit booking emerged at higher level. At 12:40 IST, Sensex was down 37.70 points at 14,532.98. It opened higher at 14,618.78, and surged to strike an intra-day high of 14,683.36, as buying intensified. This is Sensex's highest level in nearly four months since 9 February 2007. Sensex is just about 125 odd points away of its all time high of 14,723.88 struck on 9 February 2007. It also slipped to a low of 14,523.93 The total turnover on BSE amounted to Rs 2052 crore as compared to Rs 1340 crore by 11:30 IST. Market breadth which was positive, till noon trade, turned negative on BSE with 1221 shares declining as compared to 924 that advanced. 88 remained unchanged. In morning session, there were over 2 gainers for every loser on BSE. Among the Sensex pack, 20 declined while the rest advanced. Aluminium and copper major Hindalco Industries surged 6.24% to Rs 149.80 on high volumes of 46.09 lakh shares, tracking firm global copper prices. It had surged to a high of Rs 156.25, in intra-day trade. As per reports Hindalco and Sterlite Industries, are in talks with global firms to separately bid for Canada's Alcan. Sterlite's parent Vedanta Resources Plc was in advanced talks with global miner Rio Tinto to form a special purpose vehicle to bid for the aluminum major. While London-based Vedanta is likely invest $3-$4 billion and Rio Tinto could put in $10-$12 billion in the joint venture. ITC (up 1.42% to Rs 163.75), SBI (up 1.30% to Rs 1396), and Reliance Communications (up 1.01% to Rs 510.90), were the other gainers. Tata Motors slumped 3.73% to Rs 719.25, and was the top loser from the Sensex pack. Tata Motors’ sales declined 4% to 42,558 units May 2007. Commercial vehicle (CV) sales declined to 20,675 units in May 2007 from 21,903 units in May 2006. Passenger vehicle sales were down 3% at 17,580 units in May 2007. Cipla (down 2.10% to Rs 219.50), Grasim (down 2.22% to Rs 2464), and Bhel (down 2% to Rs 1385.20), were the other losers. Hero Honda Motors lost 1% to Rs 710, after its May 2007 sales declined 6% to 2,85,109 units from 3,03,444 units in May 2006. Pune-headquartered Bajaj Auto slipped 0.66% to Rs 2220.25 after its bike sales (including exports) dipped 15% at 1,67,008 units against 1,96,120 units in the same month last year. Three-wheeler sales were flat at 24,110 units (24,029). The company’s exports, however, were up 53% at 49,203 units against 32,179 units in the same month last year. Index heavyweight Reliance Industries (RIL) slipped 0.51% to Rs 1741.10 on 1.65 lakh shares. As per reports, it has inked a pact with Gas Authority of India (GAIL) to supply, transport and market gas. Under the agreement, RIL would be allowed to use state-run GAIL's pipeline network in states such as Andhra Pradesh and Madhya Pradesh. In return, GAIL would get to market a portion of RIL's gas from the Krishna-Godavari basin. The two companies have not made a decision on the price of the gas. Mount Everest Mineral Water declined 5% to Rs 124.95 after Tata Tea decided to acquire controlling stake in the company. On Friday, 1 June 2007, the board of Mount Everest Mineral Water approved the issue and allotment of 50.99 lakh shares to Tata Tea at a price of Rs 140 per share on preferential allotment basis. Hindustan Zinc rose 3.82% to Rs 672.50 after the company, on Saturday, 2 June 2007 raised the zinc price by 1.5% to Rs 1.68 lakh per tonne and lead prices were raised by 2.4% to Rs 1.04 lakh per tonne. Chinese stocks fell sharply for a second day on Monday, 4 June 2007, following government efforts to cool a market boom that authorities worry could create a dangerous price bubble. The benchmark Shanghai Composite Index was down 4.6% at 3,816.97 at midday, after a 2.7% decline on Friday, 1 June 2007. The Shenzhen Composite Index for China's smaller second market fell 4.5% to 1,078.28, adding to a 5% fall the previous session. The government had raised taxes on trading last week in an effort to cool a frenzied market that by last week had pushed up prices more than 50% before they began to decline. Even with today’s fall, the Shanghai market is still up more than 42% since the start of the year after rising 130% in 2006. The Nikkei average hit a three-month high before ending the morning session up 0.19% on Monday, 4 June 2007, as Toyota Motor Corp rose after its strong U.S. sales data for May. As per provisional figures, FIIs were net buyers to the tune of Rs 373.38 crore, while domestic institutional investors bought net shares worth Rs 319.84 crore on Friday, 1 June 2007 Wall Street carved out a solid advance on Friday, 1 June 2007, after data on job creation, manufacturing and inflation injected the market with renewed confidence about the economy and sent major indexes to record closes. The Standard & Poor's 500 index was the biggest gainer among the major indicators and moved toward its all-time high. The Dow Jones industrial average advanced 40.47 points, or 0.30%, to 13,668.11, with the Dow closing on all time high for the 26th session in the year. The Dow also set a fresh intra-day high of 13,692 Broader stock indicators also gained Friday to end a week that saw stocks advance amid a bevy of favorable economic figures and the continued hum of corporate takeover activity. The Standard & Poor's 500 index rose 5.72 points, or 0.37 %, to 1,536.34. The S&P traded as high as 1,540.56 and advanced toward its record trading high of 1,552.87 set in March 2000. Oil prices slipped on Monday, 4 June 2007, after three days of gains as a major US gasoline pipeline resumed pumping and some Nigerian militants called a one-month truce, although analysts saw little to suggest an end to 18 months of violence. London Brent crude, currently seen as a better gauge of global oil markets, fell 31 cents to $68.76. US light, sweet crude fell 40 cents to $64.68 a barrel.

My additions:

I am still out of station because of the regular check-up of my mom( a cancer patient) and will be busy throughout this month. I am doing this from a cyber cafe, after I could steal some time from my schedule.

Keep adding Southern Online Bio Technologies Ltd and Premier Explosives Ltd as both the companies are expected to declare good results within a short time. Also those who are holding my recommended scrip, Helios and Matheson Software Company Ltd from a long time, please book some profits at around Rs.170 and keep holding the rest with a SL of Rs.169. Paramount Communications Ltd and Unitech Ltd is a clear hold at the current price, with a 10% stop loss from the present prosition. Some profits could be booked in Unitech Ltd.

Mines mired in controversy are the most attractive

Photo: NDTV Profit

New Delhi  December 29, 2014: In the coming e-auctions of cancelled but operational coal blocks, the ones with most controversy are likely to witness the stiffest fight from bidders.

From the seven operational blocks allocated to the power sector, Gare Palma-IV/2 & IV/3 and Talabira-1 stand out as the most attractive. Gare Palma in Chhattisgarh has the largest amount of reserves; Talabira, in Odisha, boasts of ready infrastructure and close proximity to evacuation facilities.

However, Gare Palma was earlier owned by Jindal Steel & Power and Talabira was with Hindalco. Both companies are being probed for irregularities in award of blocks.

"Legal cases against the promoters notwithstanding, these two blocks are the best of all. We would see new players with mining expertise contesting hard with the original owners, who'd make the most of the second chance to get their lost mines back," said a power sector expert.

Experts said new entrants such as Sterlite Energy, Essar, GVK and Larsen & Toubro are the ones to watch. "These companies have technical capabilities and ready infrastructure to put to use the mined coal. They would compete hard for getting an operational block," said an industry executive.

Gare Palma is part of a cluster of four mines in Chhattisgarh owned by JSPL which are under litigation. The charges against JSPL are of criminal conspiracy, excess mining and selling to a third party from the captive block. By the Supreme Court's directive, JSPL would also pay the highest amount of penalty, close to Rs 3,000 crore, for its four cancelled blocks.

The Central Bureau of Investigation has registered a charge of undue favours to the Kumar Mangalam Birla-owned Hindalco for getting allocation of the Talabira block.

The Tokisud block allotted to GVK Power was under fire from the government for delay in production. It was on the verge on getting de-allocated when it went under litigation through a public interest suit filed against all the allocations made over two decades by the government-appointed screening committee. The block has rich reserves with an end-use power plant in a 20 km radius.

"Wherever the end-use is in proximity and the earlier owner has put in more than 80 per cent investment, he would want the mine back," said a power sector executive.

The Sarshatali coal block in West Bengal is the only one which is non-operational but about to produce. This might make it a little less impressive, as mining clearances would need to be taken afresh.

The government has allotted 24 blocks for e-auction during February 14-22. Of this, seven are for the regulated power sector, for which there would be reverse auction. The rest are for steel, cement and captive power production, wherein there would be forward bidding.

Last week, the coal ministry uploaded mine- wise tender documents for the e-auction on mstcecommerce.com. Government- owned MSTC would conduct the e-auction through its online trading platform. 

Courtesy: Business Standard

FIIs pull out Rs 5,000 crore from equities post-Budget:

The Exodus of FIIs continue though Times of India and Economic Times are trying to do face saving for the UPA. One of the relatives of Sonia Gandhi is reportedly having good holding in the Times Group,

The UPA Government will take us to hell with such High Fiscal Deficit and the Royal Excheque already empty due to ills committed in the last 5 years of its Misrule:

Foreign institutional investors (FIIs) have pulled out over $1.06 billion (around Rs 5,000 crore) from the Indian stock market after the presentation of the Union Budget on July 6. Their net sales in the last six trading days have been Rs 5,240 crore.

However, domestic institutions were aggressive during the period and bought shares worth Rs 44.6 crore. The BSE Sensex has lost 1,512 points, or 10.14 per cent, in the same period.

On Monday, the stocks fell to a two-month low, led by Tata Steel and other metals producers after commodity prices declined, and on concerns that government measures might not be enough to revive economic growth.

Tata Steel, the largest maker of the alloy, slid almost 4 per cent. Hindalco Industries, the no. 1 aluminum producer, declined 3.4 per cent. JSW Steel slumped 6 per cent.

“People want to wait for some positive action because they have been disappointed that nothing has come from the Budget,” said S Krishnakumar, vice-president of equities at Sundaram BNP Paribas Asset Management Co in Chennai, who manages $420 million. Finance Minister Pranab Mukherjee on July 6 unveiled the widest Budget deficit in 16 years and failed to lay out firm plans to sell state-run assets.

The Bombay Stock Exchange’s Sensitive Index, or Sensex, fell 103.9, or 0.8 per cent, to 13,400.32, its lowest since May 15. The drop extended a 9.5 per cent slide last week, the biggest retreat since the week ended October 26.

The S&P CNX Nifty Index on the National Stock Exchange lost 0.8 per cent to 3,974.05. The BSE 200 Index declined 1.3 per cent to 1,627.41.

Tata Steel fell 3.9 per cent to Rs 339. Hindalco retreated 3.4 per cent to Rs 70.3. JSW Steel, India’s third-biggest producer, fell 6 per cent to Rs 485.25. A measure of six metals traded on the London Metals Exchange, comprising copper, aluminum, lead, tin, zinc and nickel, fell 1.3 per cent.

‘No positive trigger’“There is no positive trigger for the market,” said Alex Mathews, head of research at Geojit BNP Paribas Financial Services Ltd. “Weak sentiment after last week’s budget is spilling over to this week.”

Mukherjee said on July 11 that the nation’s central bank would act “as and when” needed on interest rates. “You cannot expect an omnibus reply, but as and when the situation will require appropriate action it will be taken,” he said at a press briefing after meeting central bank officials in New Delhi. The MSCI Asia Pacific Index dropped as much as 2.6 per cent, the most since May 18. The gauge has lost 6.7 per cent from an eight-month high on June 12 as optimism for a global economic recovery eased.

‘Worried’“People are worried about the overall recovery globally,” Krishnakumar said. Reliance Industries, India’s most valuable company, declined 1.4 per cent to Rs 1,750.95. Jaiprakash Associates, the biggest maker of dams, fell 4.6 per cent to Rs 177.5. Larsen & Toubro, India’s largest engineering company, slid 2 per cent to Rs 1,330.1. Reliance Infrastructure, the second-biggest utility, lost 6.2 per cent to Rs 964.45.

The earnings of Sensex companies may decline 6.8 per cent in the quarter ended June, analysts Sanjeev Prasad, Bhavesh Shah and Sunita Baldawa of Kotak Securities said in a research note On Monday. [WIth inputs from Internet]

WINNING STROKES: THINK DIFFERENT

Photo: A1data Entry

Tata Steel Ltd recommended last week at around Rs.217, today crossed Rs.250, intra-day and is now trading at Rs.250.40. Most of the metal stocks are rising, not only due to value buying, but also due to better prospects in the construction sector going forward. The negatives are already factored in the current prices of the metal stocks and therefore, most of them are showing upswing. Very recently, Alcoa's chief executive said, "The global aluminium demand will grow by 6.5% in 2015 and will double during this decade". Moreover, an uptick in aluminium demand from the automotive segment to meet stricter global emission standards should boost revenue and profits for Novelis and other Aluminium companies. Also, Hindalco Industries Ltd's, debt of about ~Rs.60,000 crore may remain at these levels for quite sometime, as the capex cycle is nearing an end.  Hindalco Industries Ltd's net debt to equity is about 1.7 times.
Rohit Ferro Tech Ltd recommended in this blog only a few days back for a target of Rs.9.7 today closed at Rs.6, up 4.35%.

Reliance Communications Ltd recommended to the Premium Group members at Rs.72, touched Rs.78 and is now trading at Rs.75.40. 

Jindal Saw Ltd recommended at Rs.67.5, to the Premium Group members on 7th October, 2015; today it touched Rs.71.90, intra-day. 
Rasoya Proteins Ltd hit the upper circuits today at Re.0.28 in the BSE. In the NSE, it closed at Re.0.30. The stock should move up from here, due to increased positive outlook of the company. Meanwhile, The Economic Times, wrote on 9 October, 2015: "....monsoon and the sowing for soybean has been well above average and the carry forward of the previous year is more than comfortable to meet the demand before the new crop comes in".

Today, another stock from the metal sector was recommended to the Premium group members at Rs.84.35, for a short term target of Rs.93. What is the name of the scrip? Join the Premium Services, to stay ahead of others.

Hindalco, Sarda Energy Gain on Coal Auction Draft Rules

November 20, 2014: Hindalco Industries, Sarda Energy and Minerals gained on Thursday after government released e-auction rules.

The coal ministry on Wednesday unveiled draft rules for auction of 204 coal blocks cancelled by the Supreme Court earlier.

Hindalco Industries gained 0.65 per cent while Sarda Energy and Minerals surged 3.4 per cent.

Dealers say timeframe provided in the draft rules for auction is positive.

Details on pricing, compensation still awaited, dealers added.

Courtesy: NDTV Ltd

 Hindalco Industries Ltd: SELL 

CMP: Rs.97.4

Hindalco Industries Ltd came out with a flat topline and depressed bottmline for Q3FY14. The total income of the company for the December, 2013 quarter came as Rs.7477.28 Cr as against Rs.7189.80 Cr in the same period previous year and slightly higher in case of September, 2013 quarter. 

However, the net profit of the company came as Rs.333.98 Cr in December, 2013 quarter as against Rs.433.52 Cr in Q3FY13 and Rs.357.11 Cr in Q2FY14. The nine months EPS of the company stands at Rs.5.95, which indicates the stock is ready for some correction. A sell call was given to the Paid Group members today, for a short term target of Rs.93. However, it can go down to Rs.91 also, in the short term.  

In Q3FY14, lower other income and Higher effective tax rate affected financial performance despite good operational performance. Hence, over a longer time period, the outlook remains bullish, since the demand is expected to remain robust, on the back of spike in consumption. Also, strong Premia despite announcement of changes in LME warehousing rules are reflective of scarcity in the physical markets. Once, this correction gets over and the scrip makes a base, one can slowly accumulate the counter. 

Bharti Airtel, Idea, JSPL in Focus Today

[Editor: If you buy the shares of GMR Infrastructure Ltd now at around Rs.17.70, you will be entitled to the Rights Issue at Rs.15 per share. The shares of GMR Infrastructure Ltd will definitely go up, in the near future, due to NDA government's focus in the infrastructure space. When the RBI cuts the Repo rate, how do you expect the infrastructure stocks to behave, considering that most of these companies have high debt in the books? I am therefore expecting, the stock to move towards Rs.29-32, in the coming days; as with fresh funds, the company would be able to cut its debt further bringing down the finance costs to more manageable levels. In that case you will get profit from your original holdings which can be sold to buy the Rights issue share at a lower price. 
Meanwhile, GMR Infrastructure Ltd reported a consolidated net loss of Rs.638.33 crore for the third quarter ended on 31 December due to higher finance cost. The company posted a net loss of Rs.441.09 crore in the year ago period. However, GMR Infrastructure Ltd came out with a net loss of Rs.708.15 Cr for September, 2015 quarter. In that sense there is an improvement in its bottomline, speaking sequentially. Or this can be considered as a turnaround case. Income from operations during October-December quarter of the current financial year rose to Rs.2,761.39 crore from Rs.2,638.35 crore in the corresponding period of the last fiscal. Finance cost jumped to Rs.927.56 crore in the third quarter of current financial year from Rs.759.93 crore in the year ago period. During Q3FY15, the GMR Male International Airport Ltd (GMIAL) submitted claims of $803 million for the loss caused due to wrongful repudiation of the concession agreement for Male International Airport. GRM Infrastructure Ltd has interests in airports, energy, highways and urban infrastructure sectors. It has 15 power generation plants of which 8 are operational and 7 are under various stages of development. Very recently, GMR Chhattisgarh Energy, a group company of  GRM Infrastructure Ltd, won the Talabira-1 coal block in Odisha at a negative bid of Rs 478 a tonne after nine hours of bidding. Incumbent holder Hindalco of the AV Birla group lost the block in the process and has the option to sell the infrastructure developed by it to GMR.. The Odisha mine, earmarked for the power sector, has extractable reserves of 28.77 million tonnes. 
Moreover, the second phase of auction of coal blocks is expected to start with aggressive bidding. However, the bidding in the second phase is not likely to be as aggressive as in the first phase, when the government invited bids for 19 operational mines. The government is offering non-operational but soon-to-be producing coal blocks in the second phase. Companies offered aggressive bids in the first tranche as those were ready-to-operate mines.
The bidding will go on till March 8 for 11 coal mines, for which about 45 firms including Jindal Steel & Power, Adani Power, JSW Energy, GMR Energy, Hindalco Industries, Reliance Cement and Jaiprakash Associates have technically qualified. During the e-auction starting Wednesday, the bidder companies will have to quote lower than the ceiling price to bag the mine reserved for power sector]

March 04, 2015: The Nifty opened higher on Wednesday as RBI cut lending rates by 25 basis points. Foreign investors continue to buy shares in cash market; on Tuesday they were net buyers to the tune of Rs 773 crore. Domestic investors were net sellers to the tune of Rs 304 crore. Market volume declined on Tuesday; in cash segment the volume was Rs 25,536 crore (11 per cent lower than Monday' volume) and in derivative segment volume was Rs 1.99 lakh crore (20 per cent lower than Monday's volume).

(i) Bharti Airtel, Idea, Reliance Communication: Telecom spectrum auction starts today. Auction will be done in 800, 900, 1800 and 2100 MHz band. Spectrum for 900 MHz band is most important for telecom operators. Idea and RCom have 92 per cent and 100 per cent of 900 MHz spectrum due for renewal respectively. 

(ii) GMR Infra, Monnet Ispat and Energy, Jindal Steel & Power, Sesa Sterlite: Phase two of coal auction is scheduled to start today. 11 mines with total capacity of 29.3 MT are on auction. Out of the 11 mines 6 are non-regulated and 5 are reserved for power sector. 

(iii) Tata Motors: Jaguar Land Rover US sales increased 14 per cent annually in February to 6,327 units.

(iv) Power Grid Corporation of India: As per reports the company will consider payment of interim dividend today. 

(v) McNally Bharat Engineering Company has allotted 25 lakh shares to billionaire investor Rakesh Jhunjhunwala at Rs 100 per share against Tuesday's closing price of Rs 91.10 per share. 

(vi) Gail India has cancelled its plan to set up Rs 3,108 crore LNG import terminal at Paradip, Odisha. 

(vii) Tata Power has commissioned its first 63 MW unit of Bhutan hydro plant. Power Finance Corporation shares go ex-dividend today. The company had declared an interim dividend of Rs 8.5 per share.

(viii) Power Finance Corporation shares go ex-dividend today. The company had declared an interim dividend of Rs 8.5 per share.

Courtesy: NDTV Ltd

Sensex suffers second biggest point fall: Orient Beverages Ltd(which is a proxy of Mount Everest Mineral Water Ltd) hit the Buyer Freeze today: Kernex Micro System Ltd recommeded at Rs.142 and Rs.152, hits the buyer freeze when the market tanks by more than 640 points: Silverline Technologies Ltd hit the Stop Loss as mentioned in the Yesterday's mail to Premium Group: H B Portfolio Ltd( A group company of H B Stock Holding Ltd) held till the end, in a rather bad market conditions. One should keep adding this scrip on all declines. The company is coming up with an AGM on 24 th August, 2007: The Steel & Power Counters are looking good after correction: This is just a Global Sentiment and will fade away soon as all know that 100 Billion or 500 billion dollar scam in the Sub-prime market will not be able to dent the world economy; where the total trade in Forex alone in CMC, UK (Reliance Money has a JV), is more than 3 trillion dollars, which is 100 times the total turnover of the NSE: Buy Good Scrips with reasonable valuations using this dip and volatility in ur favour: I have recommended two scrips to the Premium Group members today:

Domestic markets suffered sever setback today, 16 August 2007, and settled near day’s low on intense selling pressure throughout the day. Earlier today, the market opened on a extremely bearish note following weak global cues. The turnover was high today. The Japanese yen appreciated sharply against the US dollar today, and was hovering at 114 level, due to unwinding of yen carry trade. All the sectoral indices on BSE settled with losses. All the Asian and European markets were gripped by intense selling pressure. Back home, the BSE 30-share Sensex slumped 642.70 points or 4.28% at 14,358.21, the second biggest point fall in a day. The Sensex opened with a sharp 416-point downward gap at 14,584.92 and slipped to touch a low of 14,345.03 at 15:22 IST. Sensex oscillated 203.89 points between the day's low of 14,345.03 and high of 14,584.92 The S&P CNX Nifty lost 191.60 points or 4.38% at 4,178.60. The Nifty August 2007 futures were at 4144.95, a discount of 33.65 point as compared to spot closing The Sensex’s biggest single day fall of 826 points had occurred on 18 May 2006. Fears that a possible change in taxation laws on sale of shares would raise tax-liability for FIIs had triggered sharp fall on that day when margin calls had accentuated the decline. All the sectoral indices on BSE were trading lower. The BSE Auto index (down 3.11% to 4,662.17), BSE Oil & Gas index (down 4.37% to 7,504.59), BSE PSU index (down 3.93% to 6,729.50), BSE Capital Goods index (down 4.43% to 12,214.56), BSE Healthcare index (down 2.83% to 3,526.95) and BSE TECk index (down 3.80% to 3,535.42), all edged lower. The total turnover on BSE amounted to Rs 5,291 crore as against Rs 4,232 crore on Tuesday, 14 August 2007. The NSE F&O turnover was Rs 46447.41 crore as compared to Rs 28493.98 crore on Tuesday, 14 August 2007 The market breadth indicating the overall health of the market was weak as small-cap and mid-cap stocks came under selling pressure. However, the breadth had improved from opening trade. On BSE, 1866 shares declined as compared to 861 that advanced, while 42 remained unchanged. The BSE Small-Cap Index slipped 2.95 to 7,797.26 while the BSE Mid-Cap Index declined 3.21% to 6,352.44 All the shares from the 30-member Sensex pack declined. BSE metal index bore the highest brunt amongst the sectoral indices in the market mayhem today. It fell 6.51% or 717 points to 10,299. It touched a high of 10,690 and low of 10,273 during the day. Tata Steel, the country’s largest private sector steel maker, plunged 10.24% to Rs 576 on 26.01 lakh shares. It was the top loser from the Sensex pack. Other metal shares Sterlite Industries (down 8.21% to Rs 558.45), JSW Steel (down 5% to Rs 614) and Sail (down 2.41% to Rs 143.85) were not spared either. Hindalco Industries, the country’s largest aluminium company, lost 5.60% to Rs 145.35. As per reports, it plans to become supplier to the car market. The Aditya Birla flagship, which also makes copper and owns mines, will soon make high-grade aluminium products for the body-in-white segment of cars as part of an integration process following its recent acquisition of Novelis. Tata steel, Sterlite Industries and Hindalco Industries have weightages of 27.51%, 17.73% and 13.99% respectively in BSE Metal index. BSE Metal Index had declined 8.89% over the last one month to 14 August 2007. IT pivotals recovered from their lows as the Indian rupee fell to its weakest in two months as global funds sold emerging-market assets as losses from subprime loans in the US deepened. The Indian rupee was quoted at 41.17 per unit of US dollar. It had closed at 40.76 on Tuesday, 14 August 2007. The BSE IT index declined the least among the sectoral indices on BSE. It lost 2.61% to 4,637.13 Though Satyam Computers (down 1.47% to Rs 469), Infosys Technologies (down 1.65% to Rs 1922) and Wipro (down 2.73% to Rs 468), were trading lower, they had recovered sharply from their low. A rise in the rupee adversely affects the margin of IT companies. Hence, any signs of the rupee weakening boosts IT stocks. Telecom shares were off-loaded. Mahanagar Telephone Nigam (MTNL) lost 5.20% to Rs 134.95 on reports that it has joined the race to pick up a 51% stake in Telkom Kenya. The other Indian listed players who are learnt to be bidding for a majority stake in the Kenyan government controlled company include Bharti Airtel and Reliance Communications Bharti Airtel plunged 6.97% to Rs 798 and Reliance Communications lost 5.75% to Rs 494.35 India’s biggest power generation firm by sales National Thermal Power Corporation shed 3.21% to Rs 167.20. The Union Ministry of Coal has granted in-principle approval for allocation of a new coal block, Chhati Bariatu South, to NTPC. This will help the company's efforts to secure long-term supplies of coal. India’s biggest private sector entity and oil refiner Reliance Industries lost 5.40% to Rs 1732.90 on 11.52 lakh shares. As per reports, the Prime Minister’s Economic Advisory Council (EAC) has endorsed the gas price discovered by RIL by inviting bids from large consumers in the domestic market. RIL will also benefit from the government’s recent decision to impose anti-dumping duty of $545.22 (about Rs 22,000) per tonne on import of partially oriented yarn (POY) from China. Ranbaxy Laboratories lost 3.56% to Rs 30.50 on reports that Europe’s third-biggest drugmaker Novartis has sued the company to block sale of a blood-pressure medicine Diovan, in the United States. ACC (down 0.57% to Rs 984.70), Dr Reddy’s Laboratories (down 1.49% to Rs 628), and Hindustan Unilever (down 2% to Rs 196) outperformed the market. BSE Realty index was the second worst performer among sectoral indices on BSE today. It slumped 5.56% or 410 points to 6980.08. Realty majors Unitech (down 8.06% to Rs 466.40), Indiabulls Real Estate (down 6.23% to Rs 458.95) and Sobha Developers (down 6.13% to Rs 741), edged lower. Housing Development and Infrastructure declined 7.50% to Rs 504. As per reports, it has tied up with Lehman Brothers to bid for the redevelopment of Asia’s largest slum, Dharavi. The project is expected to generate close to Rs 25000 crore in revenue for the Maharashtra government. Parsvnath Developers slumped 9.36% to Rs 299.80. Its board approved private placement of non-convertible debentures worth Rs 300 crore. The third biggest fall was seen in Bankex which lost 5.42% or 424 points to 7,421, due to credit related problems globally. Banking heavyweights ICICI bank (down 5.17% to Rs 832.30), State Bank Of India (down 5.78% to Rs 1521.60) and HDFC Bank (4.62% to Rs 1094) declined. Gabriel India (up 21.25% to Rs 31.10), English India Clays (up 20% to Rs 576), Jindal Hotels (up 19.91% to Rs 53.90), Titagarh Industries (up 14.92% to Rs 41.20), LML (up 9.93% to Rs 14.28), and DIL (up 7.96% to Rs 297) were the top gainers from the small-cap and mid-cap basket. IVRCL Infrastructures (down 11.96% to Rs 333), Shakti Pumps (down 11.17% to Rs 132.40), Omnitech Solutions (down 10.30% to Rs 147.60), Petron Engineering (down 9.68% to Rs 199.20), and Orbit Corporation (down 9.89% to Rs 443.65) were the top losers from the small-cap and mid-cap basket. IVR Prime Urban Developers settled at Rs 418.15 on BSE, a discount of 23.97% over the IPO price of Rs 550. The IVR scrip debuted at Rs 500. It touched a high of Rs 500 and a low of Rs 388. On BSE, 76.38 lakh shares of the scrip were traded. The IVR Prime Urban Developers IPO ended on 26 July 2007 with 5.75 times subscription. The stock also debuted in the NSE futures & options (F&O) segment today with lot size of 400 shares. Kernex Microsystems India jumped 5% to Rs 312.20. On 10 August 2007, the company said it had executed a service contract with Konkan Railway Corporation, Mumbai, for providing operational maintenance and annual maintenance contract services for the anti-collision systems. The estimated amount of contract for operation and maintenance of ACD systems will be about Rs 28.50 crore. Sical Logistics lost 6.85% to Rs 225.15. It acquired a cutter section dredger for $24.92 million to expand operations in the global offshore market. The dredger will be deployed in the Chinese dredging market, and is estimated to earn revenue of about $9.8 million annually. Engineers India declined 2% to Rs 453 despite winning an order worth $27 million from Abu Dhabi Polymers Company, Abu Dhabi, to manage construction of petrochemical complex in Abu Dhabi. The company made this announcement after market hours on Tuesday 14 August 2007. Realty major DLF was down 2.70% to Rs 587 in spite of reports of its imminent purchase of DCM Shriram Consolidated’s mill land in Delhi for Rs 1600 crore. As per reports, DLF is set to buy about 38 acres of land in New Delhi for more than Rs 1600 crore. The deal to buy Swatantra Bharat Mills from DCM Shriram Consolidated, about 4-5 km from Delhi's central business district will be the largest private sector land deal in the country. DCM Shriram Consolidated slipped 1.92% to Rs 84.20, after hitting a high of Rs 90.10 Ispat Industries gained 5.48% to Rs 14.82 on media reports that it plans to invest about Rs 10,000 crore within five years to ramp up domestic production. Ispat Industries is also planning to expand overseas through capacity expansion and backward integration. Bongaigaon Refinery and Petrochemicals advanced 4.17% to Rs 57.50 as investors mopped up the stock due to attractive dividend yield. The company has declared dividend of Rs 3.50 per share and the stock continues to trade cum-dividend. At the current market price of Rs 57.50, the dividend yield works out to 6%. The stock becomes ex-dividend from 21 August 2007. Industrial Development Bank of India was down 5.07% to Rs 118. As per reports, the bank aims to raise Rs 300 crore in debt in the current fiscal year. Hindustan Copper jumped 5% to Rs 145.85. After market hours on Tuesday, 14 August 2007, the government sanctioned the financial restructuring proposal of the company approving conversion of non-plan loan of Rs 50 crore into equity and waiver of 7.5% non-cumulative redeemable preference shares amounting to Rs 180.73 crore. The company also approved reduction of face value of equity shares from existing Rs 10 to Rs 5 per share. Birla Kennametal advanced 5% to Rs 273.60 after it scheduled a meeting of the board of directors on 22 August 2007 to consider 5-for 1 stock-split. Federal-Mogul Goetze (India) plunged 7% to Rs 148 after the company revised downward the price band for its rights issue. Federal-Mogul Goetze (India) said on Tuesday, 14 August 2007, its board had revised the pricing of its rights issue to Rs 145-Rs 170 per share, from the earlier band of Rs 180-Rs 215. Domestic stock markets remained closed on 15 August 2007 on account of Independence day. All Asian indices declined today, 16 August 207, as investors concerned over the health of global credit markets continued to sell stocks across the board. Hong Kong's Hang Seng (down 3.29% at 20,672.39), Japan's Nikkei (down 1.99% at 16,149.49), Taiwan's Taiwan Weighted (down 4.56% to 8,201.37), Shanghai Composite (down 2.14% to 4,765.48), Singapore's Straits Times (down 3.70% to 3,152.16) and South Korea's Seoul Composite (down 6.93% to 1,691.98) edged lower. US shares had tumbled yesterday, 15 August 2007, after the Federal Reserve added more cash to the banking system but failed to quash investors' jitters about problems in lending. The Dow Jones Industrial Average fell 167.45 points, or 1.29%, to 12,861.47. Broader stock indicators also declined. The S&P 500 index dropped 19.84 points, or 1.39%, to 1,406.70. The Nasdaq Composite index lost 40.29 points, or 1.61%, to 2,458.83. Meanwhile as per reports, the Income Tax Department is likely to scrutinise tax returns of over 700 top companies, which include A-group category companies listed on the Bombay Stock Exchange and NSE-500, to detect possible tax evasion. For the returns filed till 31 July 2007, the Income tax officers can serve the scrutiny notice any time on or before 31 July 2008. Reports further said that all stock brokers and commodity brokers as well as their sub-brokers earning Rs 1 crore or more in brokerage will also be brought under the scrutiny net. India’s indirect tax receipts rose 11.6% to Rs 66417 crore in April-July 2007 on robust customs collections, the finance ministry said on Tuesday, 14 August 2007. US oil prices slipped below $73 a barrel on Thursday, 16 August 2007, on signs a major storm brewing in the Atlantic might not endanger Gulf of Mexico oil platforms. US crude oil prices fell 52 cents to $72.81 a barrel. London Brent crude lost 56 cents to $71.08 a barrel.

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Indisil Electrosmelts Ltd was recommended on last Monday to the Premium Group Members in the Sunday Report. Today also it hit the non-stop buyer freeze. The scrip has been hitting buyer freeze from last Monday. Many do not know that it is also a Power Company: Ennore Coke Ltd hit another buyer freeze, after the company declared in the Prospectus of Shriram EPC Ltd that it will start commercial Production from January, 2008. Shriram EPC Ltd is one of the Promoters of the company. The stock has a long way to go, and it will be another Southern Online Bio Technology Ltd, which moved from Rs.11 to Rs.50 in a matter of few months. The Ennore Coke Ltd will complete the Power Project by March, 2008: Kohinoor Broadcasting Corporation Ltd today closed flat with good volumes. The stock will soon be out of the T-group and placed in the B-Group, according to the sources close to me.The company's consolidated results are a treat to watch a copy of which has been sent to Yahoo Group--SumanSpeaks: Zen Technologies Ltd hit another buyer freeze: BNK Capital Markets Ltd is available at the price of penny, one should accumulate in a staggered way: Many People missed the chance of buying Madhav Marbles and Granites Ltd today, as it dipped very low. That is is into realty sector is not known to many. The company has enviable fundamentals: Besides this my earlier recommended India Foils Ltd, Nova Petroleum, Pyramid Symeria Ltd,Cat Technologies Ltd (after it was recommended at Rs.3.5 in 2005, it raised a storm like my some other recommendations like Southern Online Bio Tech, Radhe Developers Ltd etc), KRBL etc did well today : The investors should follow these levels in Nifty: 5050, 4950, 4750, 4448 and the worst case 4200:But then how to utilise these levels to make money ???? This section is for the Premium and Quickie Group Members:

Market extends losses to fourth straight day:

The market extended losses for fourth straight day in highly volatile trade. Volatile movements in late trade were due to expiry of January 2008 derivative contracts today, 31 January 2008. The market breadth was weak. Reliance group stocks dominated turnover charts The market had opened on a firm note after the US Federal Reserve slashed the key interest rate by 50 basis points on Wednesday, 30 January 2008 but it had soon lost ground. It staged a strong rebound later in afternoon trade. However, the market was not able to sustain higher levels as European markets were trading lower after positive start. Asian markets were mixed. The 30-share BSE Sensex declined 109.93 points or 0.62% at 17,648.71. It surged 249.41 points at day’s high of 18,008.05 hit in afternoon trade. Sensex lost 341.01 points at day’s low of 17,417.63 hit in mid-morning trade. The broader based S&P CNX Nifty was down 30.15 points or 0.58% at 5,137.45. The BSE Sensex has declined 712.95 points or 3.88% at current 17,648.71 from 18361.66 on 25 January 2008. Nifty has lost 245.90 points or 4.56% at current 5,137.45 from 5383.35 on 25 January 2008 The BSE Mid-Cap index was down 0.80% to 7,766.62 while the BSE Small-Cap index was up 0.22% to 10,124.42 The market breadth was weak: on BSE 1,760 shares declined as compared to 989 that advanced. 40 shares remained unchanged. 16 out of 30 Sensex stocks declined. The total turnover amounted to Rs 5152 crore on BSE as compared to Rs 4,058.81 crore yesterday, 30 January 2008 Total turnover in NSE’s futures & options surged to Rs 78768.81 crore as compared to Rs 78768.81 crore yesterday, 30 January 2008 Sectoral indices on BSE discplated mixed trend. BSE Metal index (down 0.61% to 15,312.92), BSE FMCG index (up 0.02% at 2,167.34), BSE Consumer Durables index (down 0.59% to 5,103.86), BSE Oil & Gas index (up 0.19% at 10,705.20), BSE Auto (up 0.42% at 4,832.48), BSE IT index (up 0.05% at 3,710.11), BSE TecK index (up 0.10% to 3,280.98), outperformed the Sensex. BSE Health Care index (down 1.39% at 3,603.52), BSE Power index (down 2.13% at 3,741.27), BSE Bankex (down 1.71% at 10,713.91), BSE Capital Goods index (down 1.43% at 16,387.70), BSE Realty index (down 2.73% at 9,871.06), BSE PSU index (down 0.74% to 8,186.70), underperfomed the Sensex India’s largest private sector aluminium manufacturer in terms of sales, Hindalco Industries declined 6.02% to Rs 165.50, off day’s high of Rs 175. 11.79 lakh shares changed hands on the counter on BSE. It was the top loser from Sensex pack. Hindalco Industries’ net profit declined 16% to Rs 542 crore on 1.44% fall in total income to Rs 4646 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours yesterday, 30 January 2008. DLF (down 5.24% to Rs 817), ICICI Bank (down 3.11% to Rs 1148), and State Bank of India (down 2.78% to Rs 2158.75) were the other losers from Sensex pack. Most IT pivotals gained. Infosys Technoliges (up 1.56% to Rs 1516), Wipro (up 1.65% to Rs 418.90), and TCS (up 1.69% to Rs 880.30) rose. However, Satyam Computer slipped 0.41% to Rs 393.10 India’s largest power generation company in terms of market capitalisation National Thermal Power Corporation lost 2.06% to Rs 197.55. The company said on Wednesday, 30 January 2008 it would invest about Rs 4375 crore ($1.1 billion) in setting up a power plant in north-east India. India’s second biggest cement maker in terms of total production ACC pared gains from day’s high of Rs 829.70. It settled 2.87% lower at Rs 774.50 Hindustan Unilever, the country’s top FMCG company in terms of sales, surged 5.30% to Rs 207. It was the top gainer from Sensex pack. Bharti Airtel (up 2.66% to Rs 875), and HDFC Bank (up 1.84% to Rs 1560) were the other gainers from Sensex pack. India’s second largest bike manufacturer in terms of sales, Bajaj Auto rose 4.68% to Rs 2375, off day’s low of Rs 2230. Bajaj Auto yesterday, 30 January 2008 posted 5.32% fall in net profit to Rs 326.81 crore in Q3 December 2007 over Q3 December 2006 India’s largest oil exploration company in terms of market capitalisation Oil & Natural Gas Corporation advanced 2.53% to Rs 993 on 2.42 lakh shares. As per reports, the Director-General of Hydrocarbons (DGH) has conceded ONGC's demand for a drilling holiday on account of a global rig shortage. The stock moved in a range of Rs 970 and Rs 1034.80 so far during the day India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) rose 0.70% to Rs 2487 on 12.19 lakh shares. The stock recovered sharply from day’s low of Rs 2375.05. It had hit a high of Rs 2567.70 in afternoon trade. India's second biggest listed telecommunication services provider by sales Reliance Communications slipped 0.55% to Rs 605 despite posting 48.5% rise in consolidated net profit to Rs 1,372.83 on 29.79% rise in consolidated total income to Rs 4,874.2 crore in Q3 December 2007 over Q3 December 2006. The company announced results during market hours today 31 January 2008. India’s largest private sector steel maker in terms of total output Tata Steel gained 0.89% to Rs 730 on reporting 0.45% rise in net profit to Rs 1068.58 crore on 10.34% rise in total income to Rs 5040.95 crore in Q3 December 2007 over Q3 December 2006. The results were announced during trading hours today, 31 January 2008. Reliance Industries topped the turnover charts clocking total turnover of Rs 304 crore followed by Reliance Natural Resources (Rs 289 crore), Reliance Energy (Rs 236.20 crore), Reliance Petroleum (Rs 222.75 crore) and Essar Oil (Rs 211 crore) in that order. Reliance Natural Resources was the volume topper with total volume of 2.12 crore shares followed by Ispat Industries (1.47 crore shares), Reliance Petroleum (1.38 crore shares), Essar Oil (92.40 lakh shares) and IFCI (88.80 lakh shares), in that order. Among the side counters, Bhusan Steel (down 17.25% to Rs 1069.90), Brigade Enterprises (down 11.52% to Rs 266), Global Vectra Helicorp (down 10.36% to Rs 112), Indus Fila (down 9.95% to Rs 254), and HTMT Global (down 9.42% to Rs 294), declined sharply. SEL Manufacturing (up 10% to Rs 236.05), Honeywell Automation (up 18.87% to Rs 2100), ICRA (up 14.86% to Rs 960), Ess Dee Aluminium (up 14.49% to Rs 680), and Amtek India (up 14.22% to Rs 161), advanced. United Phosphorus jumped 3.82% to Rs 345.25. It reported 85.6% fall in net profit to Rs 7.08 crore on 10.20% rise in total income to Rs 426.15 crore in Q3 December 2007 over Q3 December 2006. The results were announced during trading hours today, 31 January 2008. IVR Prime Urban Developers surged 4.34% to Rs 282.55 on posting 2365% jump in net profit to Rs 116.32 crore in Q3 December 2007 over Q3 December 2006. The company announced results during market hours today 31 January 2008. Gillette India rose 4.27% to Rs 919 on posting 12.6% rise in net profit to Rs 31.20 crore on 10.60% rise in net sales to Rs 145.18 crore in Q2 December 2007 over Q2 December 2006. The company announced results after market hours on 30 January 2008. Indian Oil Corporation surged 6.93% to Rs 487 on reporting 16.7% rise in net profit to Rs 2090.69 crore on 15.89% rise in total income to Rs 65,404.84 crore in Q3 December 2007 over Q3 December 2006. The results were announced during trading hours today, 31 January 2008. Mphasis fell 2.89% to Rs 225 despite reporting 382.5% surge in net profit to Rs 65.86 crore on net sales rose 244.4% to Rs 449.96 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours on Wednesday, 30 January 2008. Tata Chemicals slumped 4.13% to Rs 315 after company said it reached an agreement to acquire General Chemical Industrial Products Inc, a US based chemical Company for $1 billion. Power Grid Corporation of India declined 5.45% to Rs 104. It reported 13.9% rise in net profit to Rs 384.28 crore on 18.80% rise in total income to Rs 1193.77 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours on Wednesday, 30 January 2008. Container Corporation of India galloped 11.60% to Rs 1730 after the company recommended issue of 1:1 bonus shares. Key European markets, which opened after Indian market, edged lower after a positive start. Key indices in United Kingdom (down 0.92% to 5,783.60), Germany (down 1.26% to 4,823.14) and France (down 1.03% to 4,823.90) declined. Asian markets, which opened before Indian market, settled mixed today, 31 January 2008. Japan's Nikkei (up 1.85% at 13,592.17), South Korea's Seoul Composite (up 2.24% at 1,624.68) advanced However China’s Shanghai Composite (down 0.78% to 4,383.39), Taiwan's Taiwan Weighted (down 0.30% at 7,521.13) and Hong Kong's Hang Seng (down 0.84% at 23,455.74) declined. US stocks declined on Wednesday, 30 January 2008, led by financial shares, as fears about the US economy's health resurfaced on speculation US bond insurers credit rating could take a hit. The Dow Jones industrial average fell 37.47 points, or 0.30%, at 12,442.83. The Nasdaq Composite index fell 9.06 points, or 0.38%, to 2,349.00. A credit downgrade of US bond insurers could further harm the banking sector and stunt the global economy as financial institutions take a hit from subsequent write-downs of their assets. Meanwhile the Securities and Exchange Board of India (Sebi) has decided to reduce the costs for mutual fund investors by doing away with the initial issue fee for close-ended schemes. The Sebi board, which met yesterday, 30 January 2008 also cleared the draft proposal for listing debt securities, eased disclosure norms for existing debt market securities and paved the way for permanent registration of capital market intermediaries.

Note: I am not well today and hence my correspondence to the Paid Groups will be affected to some extent--please bear with me; as after all I am also a human being and is very difficult to be physically alright in all the 365 days.

I think the newly enrolled members (basically those who joined this week) to the Paid Groups have started receiving my mails. Those who are not receiving please mail me the details.