A first in two months: Sensex settles above 14K: Southern Online Bio-Technology Ltd rises on the rumours of starting of commercial production: Garnet Construction Ltd hits the buyer freeze in the early trade: Flat Products and Equipments Ltd crosses Rs.200 with ease:The new company secretary of Premier EXplosives Ltd have joined the company. The fourth quarter results of the company will be excellent.The two joint ventues, one in Turkey and another in Georgia has kicked off.The Special Products Division is running at optimum capaicty. Keep holding your positions in Premier Explosives and add on all declines, as the downslide is limited:Selan Exploration Technology Ltd has started to consolidate at around Rs.84-Rs.87, range:

The market surged as investors put cash to use after the Reserve Bank of India (RBI) in its monetary policy announced earlier today kept all policy rates -- the CRR, repo, reverse repo and bank rates -- unchanged. Speculative buying, as well as short-covering in the derivatives aided the surge, especially in banking shares. PSU banks vaulted. Stocks from other interest rate sensitive sectors, namely, auto, housing finance and real estate looked up. Reliance Industries (RIL) and Bharti Airtel struck all-time highs. But IT shares slipped with the rupee rising to a fresh nine-year high against the dollar, soon after the central bank opted to hold short-term rates steady. The Sensex’s provisional closing was 14,144.09, a gain of 215.76 points, and its highest closing in two months since 21 February 2007. The Sensex had struck 14,000 in intra-day trade on Monday (23 April) but failed to settle above that level. The provisional closing of Nifty was 4,141.20, a gain of 56.10 points. In its monetary policy announced today, the RBI reduced interest rate ceilings on non-resident deposits and proposed allowing companies to repay more foreign borrowings ahead of schedule. The central bank proposed increasing the aggregate ceiling for overseas investment by mutual funds to $4 billion from $3 billion and increased the foreign portfolio investment limit for listed firms. The central bank forecast that annual wholesale price inflation, which was running just above 6% in early April 2007, will be close to 5% at the end of March 2008. The RBI forecast GDP growth at 8.5% in the fiscal year ending March 2008, lower than the 9.2% expected for 2006/07. Finance Minister P Chidambaram said on Tuesday the central bank's monetary policy would help moderate inflation without hurting growth. He said controlling inflation below 5% was an "aggressive task". The apex bank Governor Dr Y V Reddy also took a number of initiatives toward capital account convertibility and encouraging hedging of price risk on global commodity exchanges. He also put in place measures to develop the corporate bond market, futures contract, establishment of credit information companies and a number of steps to help distressed farmers and micro-finance. PSU banks spurted on the RBI's decision to hold rates steady. State Bank of India (SBI) gained 7% to Rs 1135, Indian Bank jumped 11% to Rs 106.25, Canara Bank rose 10.6% to Rs 223.75, Bank of India gained 8% to Rs 198.90, Oriental Bank of Commerce (OBC) rose 7.6% to Rs 207, Punjab National Bank (PNB) gained nearly 7% to Rs 506 and Bank of Baroda advanced 6% to Rs 239. Among private sector banks, ICICI Bank rose 3% to Rs 947, and HDFC Bank gained 2.4% to Rs 1011.90.

BUT THEN STAY AWAY FROM THE BANKING COUNTERS, AS, OFF-LATE THIS IS ONE OF THE MOST VOLATILE SECTORS. WITH A RISE IN INTEREST RATES, THE CREDIT GROWTH HAS ALEADY STARTED TO SLOW DOWN AND THIS KIND OF BOOTER DOSE WILL NOT BE EFFECTIVE FOR TOO LONG. Mind it: The banks had earlier also disappointed the investors and shook the investors' sentiments. Housing finance firms advanced after the central bank lowered a risk weightage on housing loans up to 20 lakh to 50% from 75%. RBI said the reduction was a temporary measure. HDFC gained 2.6% to Rs 1714.90.

Car major Maruti Udyog gained amid volatility in afternoon trade, when it announced Q4 March 2007 results. The stock surged 4.3% to Rs 801. Maruti Udyog (MUL) today reported 24% growth in net profit in Q4 March 2007, at Rs 449 crore against Rs 361 crore in the corresponding quarter a year ago. Other rate sensitive auto shares too nudged higher. Tata Motors gained 3.9% to Rs 746, Mahindra & Mahindra gained 1.7% to Rs 744, and Bajaj Auto advanced 1.6% to Rs 2449. Bharti Airtel gained 4% to Rs 875. It struck a high of Rs 882, which is a lifetime high for the scrip. The company on Monday announced the pan-India launch of comprehensive telecom and networking solutions for small and medium businesses. Reliance Industries rose nearly 2% to Rs 1583. The stock struck a high of Rs 1588, which is a record high for the scrip. Oil exploration major, ONGC, gained 1.7% to Rs 949.65, tracking firm global crude oil prices. IT shares slipped due to worries over a rising rupee against the US dollar. Wipro lost nearly 2% to Rs 556, TCS shed 1.2% to Rs 1230, Satyam Computer shed 0.8% to Rs 476.50 and Infosys shed 0.4% to Rs 2058. A stronger rupee directly impacts the revenue and profits of IT firms as they derive a lion’s share of revenue from exports. The Indian rupee soared more than 1% against the dollar on Tuesday to a fresh nine-year high, with the market undeterred by central bank steps to try and ease upward pressure on the currency. The rupee climbed as far as 41.15 per dollar, its highest level since May 1998. Tata Steel extended its gains, as investors shrugged off equity dilution concerns and instead focused on the attractive price of its rights issue. The stock was up nearly 4% to Rs 578.80. The company, last week, announced a 1:5 rights issue at Rs 300 per share. Gujarat Ambuja Cements gained nearly 4% to Rs 119.40 and ACC rose 2.4% to Rs 816.. Holcim, the world's second-biggest cement maker, has raised its stake in Gujarat Ambuja Cements (GACL) to nearly 30% in a deal worth approximately Rs 322 crore. Around 27.96 million GACL shares, constituting roughly 1.8% of its equity, was traded in a block deal on the Bombay Stock Exchange at Rs 115 per share on Monday (23 April 2007). Holcim owns nearly 28% in Ambuja Cements and this stake will rise to nearly 30% after the latest deal. The Sensex’s all-time peak is of 14,723.88, which had been reached on 9 February 2007. Its all-time closing high is 14,652.09, of 8 February 2007.[With inputs from the internet]

Stock Talk:

After Garnet Construction Ltd, Sanguine Media Ltd, and Cinemax India Ltd another of my earlier recommended stocks which looks attractive is Premier Explosives Ltd. The company is doing extremely well in all its fronts with lot of orders in the pipleline. The new inputs which I got from the sources is that the company is coming up with a board meeting on 26-03-07, where the proposals regarding the selling of the assets of the Mushroom Division will be discussed. The company has already sought the shareholders' approval for selling the same. If the company gets the shareholders' approval( which is likely), the net proceeds from the sell would be utilised for clearing the old debts and also for furthering the expansion and modernisation programmes.

Premier Explosives Ltd will now focus on the core competence and is expected to purse the defence sector in a more vigorous manner. With the government increasing the allocation for the defence sector in this budget and Indo-US nulear co-operation now a realty, this company is expected to suck most of the cream from the System. There is likely that the company could spell out its future course of action during this meeting and also discuss steps to boost the overseas JVs. In the last September, its special products division has started functioning in full gusto.

The company's results in this quarter will reflect the sales coming from the Mushroom division (which will be good as the mushroom prices have increased by 20-25 % in the last few months), Core divsion which include lucrative defence deals, Overseas joint ventures, proceeds from the sale of its mushroom division(which is likely) and from the recently inaugurated Special Products Division.

I am looking at a price of around Rs.100 plus by May, 2007. So those investors who are still standing on the sidelines and chanting "Ram Sita, Ram Sita, Ram Sita..." looking at the tremendous volatility which the market is throwing everyday, should enter this scrip without using too much time or without using the services of the "Grey cells to the less"; since it is safe and has limited downslide.

Always remember, the guys who has long term vision and who take delivery based calls only makes hefty gains from the markets--be it Rakesh Jhunjhunwala or Warren Buffet. Avoid playing in the futures market....unless u are too confident that the stock will run or fall in the next 24 hours. I have got lot of queries regarding G M Breweries Ltd. The problem is that the company's share price had in the past over reacted after more or less good results, due to some moronish comments by the "Disguised Moderators" of the highly manipulated MMB. Off late while doing further research on the company I have found that, the real problem with it, is that its sales have peaked out due to saturation of its capacity. Hence with the current capacity in place it will not able to show higher sales, or any increase in its topline seems remote. Thus, its Net Profit could either show only marginal increase or remain stagnant and this is only possible if its margins increases. It is also a remote possibility that the company would be able to increase the price of its products with the inflation tiger roaring over its head and the government using all the shenanigans at its disposal to check the inflation. Hence in the following quarters also it might show FLAT topline and bottolines. But after the completion of its expansion programme, which is by 2008, the company's share price will shoot over the roof and will cross Rs.300 with ease. Hence my advice to the investors who are holding it is to keep holding the stock and exit at around Rs.130--Rs.150 range if you are for the short term but for long term one can keep it in a "Deep Freeze" and go for 10 months vacation. I am sure the profits from this "GEM" will cover expenses of to and fro trip to Galaphagous Island. More in the following postings....

Premier Explosives Ltd and Jai Parabolic Springs Ltd--Sell one and buy another:

[Updated at 1.50 p.m]

Due to closure of a Plant in the March 2007(Q4), quarter, which the company did not disclose to the media earlier, hence this might partically affect the results of Premier Explosives Ltd and it will not be as was expected, before. I mean now the net sales could be anywhere between Rs.65 --Rs.66 Cr. Also there could be a dip in Net Profit in the March 2007, quarter as compared to the same quarater previous year(Q4, 2006).

Hence, I have advised all my group members including the Premium Members to exit from the counter for the time being and then again enter after the correction is over in this scrip. Also the June, 2007 results is expected to be good as the proceeds from the sale of the mushroom division will enter the balance sheet, which in turn will results in the increase of both the Net Profits and the EPS.

Moreover, in case of Jai Parabolic Springs Ltd, neither the Honourable High Court nor the existing Shareholders have approved the unrealistic swap ratio of 2:1, which is skewed in favour of Jamna Auto Industries Ltd. Hence I do not think it will get the shareholders approval and for that matter from the Honourable High Court.

Second thing is that one year back there was a private placement to a Foerign Entity at Rs.72 per share, and hence within one year, this cannot change dramatically so much. HENCE THE CATCH...

By talking with a top source I am convinced that the share price of Jamna Auto is all set to touch new highs or reach more than Rs.150, as it is one of the largest auto ancillary companies in Asia or in South East Asia.

Also the fundamentals of Jai Parabolic Springs are excellent when one looks at the last quarter results and hence I think a price of Rs.60 plus is not at all impossinble for Jai Parabolic Springs Ltd in the short term. Waiting for more information to come in both the counters.....

Auto stocks in demand:

The market stayed firm in mid-afternoon trade, as buying continued. It on a strong note, tracking firm global equities. This is the fourth straight day of gains for the market. The sentiment has been lifted by data, on Friday 29 June 2007, showing fall in inflation to a 14-month low. Auto stocks gained as buying continued for them, in anticipation of easing interest rates in future. At 12:24 IST, the BSE 30-share Sensex was up 112.97 points to 14,777.23. The barometer index opened higher at 14,720 and surged to strike a record high of 14,816.36 at 10:47 IST as buying momentum intensified. The S&P CNX Nifty was up 37.29 points to 4351.40. It opened higher at 4315.05 and surged to an intra-day high of 4359.30. Nifty is now within striking distance of its all time high of 4362.95, struck on 4 June 2007. The market breadth was strong on BSE with 1,477 shares advancing as compared to 992 shares that declined, while 89 remained unchanged. The BSE Mid-Cap index struck an all time high of 6,655.34, and was now up 0.74% to 6,640.05 The BSE Small-Cap index was up 0.63% to 7,832.68 Among the Sensex pack, 26 advanced while the rest declined. State Bank of India (SBI), the country's largest commercial bank, advanced 3.02% to Rs 1,577, and was the top gainer from the Sensex pack. The scrip hit a high of Rs 1,580, which is a lifetime high for the counter. Nearly 5.24 lakh shares changed hands on the counter on BSE. It was thr top traded counter on BSE with turnover of Rs 82.77 crore. As per reports, SBI would soon enter seven new business streams including pension funds to tap emerging opportunities. The bank will float a subsidiary to manage pension funds under the New Pension Scheme (NPS) for government employees. The bank also proposes to launch financial planning and advisory services given the growing affluent class. This would be upgraded to wealth management at a later stage. In addition to the life insurance business, the bank, with its large branch network, is looking into the general insurance business. Shares from the auto pack continued buying for the second straight day. The BSE Auto index rose 0.52% to 4,816.13. Car major Maruti Udyog advanced 1.33% to Rs 781.50. Maruti said during trading hours on Monday, 2 July 2007, it had sold 59,917 vehicles in June 2007, up 24% from 48,425 vehicles sold in June 2006. Maruti Udyog sold 56,000 units in the domestic market, up 25.5% from 44,626 units in June 2006. Tata Motors rose 1.15% to Rs 691.95 despite reporting 2% fall in vehicle sales to 44,317 units in June 2007. Hero Honda Motors rose 0.16% to Rs 691.90 after it reported 8.4% decline in sales in June 2007. After trading hours on Monday, 2 July 2007, Hero Honda reported 8.4% decline in sales in June 2007 to 2.55 lakh units. Index heavyweight Reliance Industries (RIL) was up 1.11% to Rs 1,703.15, on 2.90 lakh shares. The Committee of Secretaries (CoS), which met on Monday 2 July 2007 to decide on the issue of gas pricing from RIL’s D6 fields in the Krishna-Godavari (K-G) basin, has asked the power and fertiliser ministries to present their views before the committee on 5 July 2007. No decision was taken in the meeting even as the petroleum ministry pitched for a market-determined price of gas produced from NELP blocks. Housing finance major HDFC lost 2.25% to Rs 1985, on 64,614 shares. It was the top loser from Sensex pack. Reliance Energy declined 1.01% to Rs 618 while ONGC slipped 0.10% to Rs 895.50 Akruti Nirman (up 20% to Rs 402.20), Techtran Poly (up 10.45% to Rs 33.30), Nicco Corporation (up 9.90% to Rs 31.10), Valecha Engineering (up 8.25% to Rs 273), VST Tillers (up 7.07% to Rs 165.05), and Sasken Communications (up 9.85% to Rs 532.25) surged from small- and mid-cap shares. Textile firm Himatsingka Seide rose 4.28% to Rs 122.95 on acquiring an 80% stake in US-based Divatex Home Fashions Inc for $53 million. The enterprise value of the transaction is $75 million, it said. Divatex is among the top three distributors of bed linen products in the US. Divatex reported revenue of $151 million in the year ended December 31, 2006 with earnings before interest, tax, depreciation and amortization (EBITDA) of $14 million As per provisional data, FIIs were net buyers of Rs 95-crore equity on Monday, 2 July 2007. Domestic institutions were net sellers of Rs 87-crore equities on that day. The next major trigger for the market is Q1 June 2007 result of IT bellwether Infosys on Wednesday, 11 July 2007. A Q1 results preview by Citigroup states that downward revision in EPS guidance for FY 2008 (year ending 31 March 2008) by Infosys cannot be ruled out given a surge in the rupee against the dollar in Q1 June 2007. Citigroup, however, expects an upward revision in revenue guidance in dollar terms from the IT bellwether. Asian shares forged ahead on Tuesday, 3 July 2007, led higher by energy companies as oil and base metals rose, but the dollar sagged on expectations that US rates will remain steady while borrowing costs rise elsewhere. Nikkei 225 (up 0.23% to 18,187.36), Hang Seng (up 0.94% to 21,977.87), Seoul Composite (up 1.93% to 1,805.5), Taiwan Weighted (up 0.63% to 8,996.20) and Straits Times (up 0.38% to 3,563.98) edged higher. China's Shanghai Composite was up 1.54% to 3,895.33 US stocks rallied on Monday, 2 July 2007, on a fresh bout of takeover activity as Canada's largest telephone company, BCE Inc. agreed to a US$32.6 billion buyout. On Wall Street, blue-chip stocks and the Nasdaq Composite Index both rose about 1%. Crude oil was little changed on Tuesday, 3 July 2007, in New York after rising to a 10-month high yesterday on speculation U.S. refiners may boost processing to restore gasoline supplies. Crude oil for August delivery was at $70.86 a barrel, down 23 cents, in after-hours electronic trading on the New York Mercantile Exchange in Singapore.

Keep adding Silverline Technologies Ltd, ahead of Board meeting. Its media division is performing excellently, after its sucess of "Hanuman". There are already murmurs in the market that Silverline Could be another Matrix Laboratories Ltd(Those who are in the market for the last 4-5 years must be knowing that,the shares of Matrix Labs, Rs.10 face value, were at Rs.18 in 2003-04)or Lupin Ltd (The shares of Lupin Ltd was at Rs.9. It is to be noted that this company was started with a base capital of Rs.5000, only). Many do not know that Silverline Technologies Commanded a share price of Rs.1200, in 1999-2000, during the height of Dotcom boom. The company clocked a turnover of Rs.700 Cr at that time. Can we expected a target of Rs.50--Rs.70, after the board meeting and demerger, within the next 3 months time frame????: Keep adding Premier Explosives Ltd on all declines or at CMP: Those are holding Crompton Greaves and IFCI Ltd please keep holding with a trailing SL of Rs.5% from the current price. I have already mentioned to the Premium Group Members in last Sunday that the probable price for the acquistion of shares of IFCI Ltd, by a strategic investor, could be in the range of Rs.80--Rs.82: Those who are holding Jhunjhunwala Vanaspati Ltd from Rs.50-Rs.54, range, book some profits. Book some profits in Khoday Ltd: G M Breweries Ltd afer its mention in the Report on last Sunday, sent to Premium Group members, has again started to hit the buyer freeze: Keep adding Ansal Buildwell Ltd on all declines:Jamna Auto Ltd came out with wonderful results speaking both Sequentially and QoQ. Keep adding at the CMP.The auto sector is expected to move further, as the Banks might soon reduce the PLR; also the festival season is round the corner, when the offtake from Automobile Companies are the highest. During the June quarter, the Company has raised Rs 45 Cr through Preferential Issue. Upto June 30, 2007, the company has utilised Rs 15.77 Cr for repayment of term loan out of the proceeds of the preferential issue. The Company proposed to set up a manufacturing facility at District Saraikala-Kharsawan, Jharkhand. It will be futile to look at the results of Jai Parabolic Springs Ltd, as it is already merged with Jamna Auto Industries Ltd from 1st July, 2007: Today the markets could be a little subdued due to government's plan to limit the ECBs.....The government has announced fresh restrictions on external commercial borrowings (ECBs), limiting their use for rupee expenditure. Companies will now be able to raise only up to $20 million abroad for rupee expenditure and only with prior RBI approval; but the overall bullish trend is expected to continue: Here is an Old news of the some defence related companies, culled from the Internet: Military might: Make way for defence stocks: Investors can benefit from private sector involvement in India’s defence budget. India’s ambitions of becoming a regional power entail higher defence, space, nuclear and internal security expenditure by the government. The Union budgets have ample provisions providing for India’s internal and external security.

As per a United States Congressional Research Service Report, India was the largest arms purchaser in the developing world from 1998 to ’05, striking deals worth $20.7 billion. India is likely to make purchases of more than $10 billion every year for the next 10 years. In the near future, the biggest deal will be the purchase of 126 multi-role fighters for the IAF at $6.5-10 billion.

Global defence companies are looking to tie up with Indian companies to bid or part-produce orders. Corporate houses had lobbied with the government to grab a slice of this market and had set up specialised divisions to cater to the defence industry. Tata Power’s Strategic Electronics Division, Tata Advanced Materials and the defence divisions of L&T, M&M, Ashok Leyland and Kirloskar are involved in development of defence products. But large defence orders for complete systems have eluded the private sector. The market for complete systems is dominated by public sector companies like Hindustan Aeronautics, Bharat Electronics (BEL), Bharat Dynamics, Bharat Earth Movers, Mazgaon Docks and Goa Shipyard.

Mid-to-small cap companies produce sub-systems for public sector defence companies or smaller, integrated systems for armed forces like Astra Microwave, Premier Explosives etc.

A critical driver that will benefit Indian companies is the defence offset clause, introduced in the Defence Procurement Policy, ’06. This is applicable to all acquisitions where the tender value exceeds Rs 300 crore. It requires foreign vendors to provide orders to Indian companies equivalent to 30% of the contract value. India’s defence capital expenditure for FY07 was estimated at Rs 37,458 crore against the FY06 revised estimate of Rs 33,075 crore.

Historically, around 70% of India’s capital defence budget was spent abroad. The domestic industry is now getting a larger slice of the defence budget. In December ’06, L&T and Astra Microwave became the first recipients of the defence offset clause when ELTA, an Israeli defence company, awarded both companies with a Rs 250-crore order to supply radar components for an IAF radar order worth Rs 900 crore.

Winning Strokes: Think Different

Key benchmark indices suffered severe losses amid a broad-based sell-off in index pivotals. The barometer index, the S&P BSE Sensex, lost 550.51 points or 1.51% to settle at 35,975.63. The Nifty 50 index lost 150.05 points or 1.36% to settle at 10,858.25. The Nifty settled below the psychological 11,000 mark.

Photo: Samachar Plus

Sentiment was weak after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices. Investors were also cautious ahead of the three-day Reserve Bank of India (RBI) policy review scheduled to begin Wednesday. The RBI's Monetary Policy Committee (MPC) will meet between 3 to 5 October 2018 for the fourth bi-monthly monetary policy for 2018-2019. The resolution of the MPC will be unveiled at 14:30 IST on 5 October 2018.

In the global commodities markets, Brent for December 2018 settlement was up 17 cents at $84.97 a barrel. The contract had fallen 18 cents, or 0.21% to settle at $84.80 a barrel during the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 73.24, compared with its close of 72.91 during the previous trading session. Rupee hit a record low of 73.4175 against the dollar in early deals amid worries that surging oil prices will stoke inflationary pressures and widen India's current and trade deficits.

Among secondary equity barometers, the BSE Mid-Cap index lost 1.11%. The BSE Small-Cap index rose 0.20%.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1453 shares rose and 1212 shares fell. A total of 153 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Auto index (down 2.9%), the S&P BSE Teck index (down 2.38%), the S&P BSE IT index (down 2.23%) underperformed the Sensex. The S&P BSE Metal index (up 1.74%), the S&P BSE Oil & Gas index (up 0.63%), the S&P BSE Capital Goods index (up 0.23%) outperformed the Sensex.

Yes Bank gained 5.79% on bargain after the steep declines in recent weeks. In a recent press update, the bank noted that it is fully geared for the MD & CEO's succession and pursuant to the board of directors meeting dated 25 September 2018, the two external experts of the search & selection committee will be finalized by 7 October 2018. The committee, assisted by a global leadership advisory firm, will evaluate both internal and external candidates and make suitable recommendations to the board of directors for onward submission to RBI.

Over the past few days, some unfounded speculations regarding the bank's asset quality have been brought to its notice, according to the bank. In this context, the management clarifies that the asset quality continues to be stable and reiterated its credit cost guidance at 50-70 bps for FY19 (76 bps for 

FY18).

The bank has a liquidity coverage ratio of ~101% as on September 30, 2018, which is 11% points in excess of the minimum regulatory requirement of 90%. The Bank's average daily LCR for Q2 FY19 was ~100%. The bank's liquidity position will further benefit from the recent RBI measures (announced on September 27, 2018) to ease systemic liquidity which will take effect on October 01, 2018, noted the bank further.

Hathway Cable & Datacom jumped 9.09% after media reports suggested that Reliance Industries has initiated talks to acquire Hathway Cable. The acquisition talks are underway in a bid to speed up the commercial launch of Reliance's GigaFiber high-speed home broadband services, reports added.

Reliance Industries lost 2.13%. With reference to media reports titled, "RIL in talks to buy Hathway, bring broadband home to you", the company clarified to bourses today that it is unable to comment on media speculation and rumors and it would be inappropriate on its part to do so. The company evaluates various opportunities on an ongoing basis. There is no information which has not been announced to the stock exchanges and which should have been announced by the company.

MOIL gained 6.39% after the company said that it has fixed/revised prices of different grades of manganese ore and other products, effective from 1 October 2018. The announcement was made after market hours on Monday, 1 October 2018. Stock markets were closed yesterday, 2 October 2018 for local holiday.

MOIL said that in line with the business practice of fixing/revising prices Manganese Ore, the company has fixed/revised prices of different grades of Manganese Ore, effective from 1 October 2018. The prices of Ferro Grade, SMGR (Mn 30% & Mn 25%), Chemical Grade and Fines have been increased by about 10% on the existing prices prevailing since 1 September 2018. A discount of 10% will be offered on the prices effective from 1 October 2018 on specific grades of materials i.e. BGF534, DBL456 & BGL523 for dispatches during October 2018.

The basic price of Electrolytic Manganese Dioxide (EMD), has been increased by Rs 9000 PMT on the existing price prevailing since 1 July 2018. Ferro Manganese/ Ferro Manganese Slag and some identified grades of Manganese Ore will continue to be sold on e-auction basis as well as through Metal Mandi (M3) of MSTC.

Overseas, most European stocks rose on Wednesday as investors kept an eye on Italian politics and spending plans. Most Asian stocks declined. Markets in China and South Korea were closed for a public holiday.

Italy last week unveiled a 2019 budget deficit target that has met stiff opposition from European Union officials, who say it will violate the bloc's fiscal rules. Italy's coalition government proposed a budget that would increase the deficit to 2.4% of gross domestic output in 2019, well above the initial target of 0.8% proposed by the country's previous centre-left government. The current target range for this year is 1.6%. The deficit blowout revived fears of the eurozone debt crisis and put pressure on the euro.

Meanwhile in the UK, the Conservatives' annual party conference was under way with Prime Minister Theresa May facing pressure over her proposal for future UK-EU relations, known as the Chequers plan, which has already been rejected by EU leaders. Any additional signs of political instability in Europe could weigh on the US, where multinational firms have a large amount of revenue exposure to the region.

In US, the Dow Jones Industrial Average hit a record high on Tuesday as it rallied for a second day, boosted by gains in Intel and optimism around global trade. Stocks were coming off strong gains from the previous session after Canada joined the US and Mexico in a new trade deal. The United States-Mexico-Canada Agreement, or "USMCA" for short, will see all three countries compromise on certain trade aspects. More market access will be granted to US dairy farmers, while Canada has agreed to effectively cap automobile exports to the States.

Trade war remains in focus for the markets. Following the new USMCA deal to replace the current North American Free Trade Agreement, eyes are now on Washington's ongoing trade fight with China. Investors will be looking to China, to see if Beijing and Washington can compromise on certain trade elements.

#Yesterday's call Yes Bank Ltd at around Rs.185 and Rs.200 call at Rs.15 gave good returns to the investors. The stock rose to Rs.222.95 in the NSE before closing at Rs.212.75 in the NSE up 5.92%. The Premium Members were asked to book profits around Rs.220 after the 1st target was achieved. You can hold the scrip with a SL at Rs.202.
I have started to give calls on Twitter during the market hours, because this seems to be a better one than Facebook for micro-blogging. My Twitter handle is suman2009s

#Today a buy call was initiated in the shares of Global Offshore Services Ltd at around Rs.12.80 for medium to long term basis. It is in the business of transport of personnel to rigs or  platforms from onshore bases and vice-versa; delivery of cargo or  material to rigs or platforms; anchor handling operations;towing of rigs, etc. The fact that crude oil prices are moving up in the international market is positive for the sector.
However, since this is a high-risk-high-gain stock, kindly don't enter the counter without placing a SL at Rs.9.60. If the things work as expected then this stock can make you millionaire. 

#Today a buy call given to the Premium Members on Premier Explosives Ltd at around Rs.180. If you could remember, that I used to give regular buy call on this company during 2003-2007 period, when it used to hover around Rs.18-35. Now I am recommending the same stock almost 6  times that price. This is how the stock market rewards long term investors. The stock  rose to Rs.214 intraday giving good returns to the Premium Members. The scrip closed at Rs.189.65 in the NSE, up 7.88%.
Join the Premium Services and get such calls on your Whatsapp, during the market hours. One or two Right Trade/s will give you back what you Paid as subscription charges. You can send me mails at: suman2005s@rediffmail.com.

Premier Explosives is a manufacturer of high-energy materials for the defence and mining sectors. It is the first private entity to develop and manufacture solid propellants for missiles. Bharat Dynamics has been procuring booster grains from Premier Explosives for use in the manufacture of Akash missiles. Amar Nath Gupta (promoter) bought 25,38,599 shares through market purchase from August 23 to August 27, 2018.

#The stock of Bharat Electronics Ltd (BEL) was given a buy to the Premium Members on 2nd October, '18 to be bought on the next day, i.e. 3rd October, '18 at Rs.82.70. The scrip made a high of Rs.84.75 today, before closing at Rs.83.40 on the NSE. You can still buy the scrip for targets of Rs.102/119. SL: Rs.75.
Public sector major Bharat Electronics Ltd (BEL) is planning to grab its pie on the Rs 90 billion-worth opportunity Indian Space Research Organisation (Isro) is opening up for the industries in the next few years. BEL is working in strategic areas like homeland security solutions, smart cities, cyber security, unmanned systems, satellite integration and composites in line with the emerging needs of the customers, said M V Gowtama, Chairman & Managing Director of BEL in a communication to the shareholders.

#In the Forex market the Indian Rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices. This gives a general indication that the RBI is likely to increase the repo rate in the next meet. Hence, as a precautionary measure, I would suggest you to stay away from the rate sensitive sectors, like Real Estate, Construction, Auto, etc for the time being. 

#The Nifty Spot today closed at 10858.25 down 150.05 points. I feel the negative trend is likely to continue with occasional bouts of spikes, which should be used either to come out long positions or to initiate fresh shorts. According to my estimation, with a rate hike fear looming on the horizon, the Nifty Spot is likely to test 10586 in the Extreme Case, on the downside. However, the individual shares are likely to shine. Hence, stock picking is very important in this kind of market. Tomorrow we could witness a bounce of 10 - 15 points bounce on Nifty during the opening hours. 

~~with inputs from Capital Market Live News....

Spot Rubber declines on Panic Selling: Very Good for Tyre Companies (Read, Vamshi Rubber Ltd):

Selan Exploration Completed Drilling in Oil Rich Cauvery Basin in January, 2007 and it is "Virtually Impossible" to think that it has not struck Crude Oil in its Wells; since it's operations are carrried out in "Proven Oil and Gas Fields":

Rumours of another Defence Deal for Premier Explosives becomes strong; the stock hits the Buyer Freeze:

[Updated on 19-02-07]

I am still out of station and is trying to do some updates from my friend's computer late at night.... Hope those who have paid heed to my call of not getting out of the markets and buying when the Indices fell by huge amounts have gained hugely. The pre-budget rally will continue with occassional Volatility....But Please keep holding ur positions in Selan Exploration Technology Ltd (SETL), as I am now almost certain that Crude Oil has been found in a number of its wells while drillig / renovation of abandoned wells in the Oil Rich Cambay Basin. As u must be aware that the company is carrying out developmental works in 10 (ten) oil producing wells in the Bakrol oil field which is estimated to increase the production by at least 500--600 barrels of oil per day (bpod). Additional Capacity will also come out from the Abandoned wells.... The Cambay Basin is an oil rich region and has been categorised as category I sedimentary basin, which essentially means that it is an established commercially productive region. In the past couple of years, operators like Niko Resources and Gujarat State Petroleum Corporation have discovered significant amount of oil and gas in the Cambay Basin. Consequently, the management has initiated an aggressive plan to develop its oil fields in a phased manner. So if the company goes in for Renovation or Drilling in Cambay Basin, it is impossible to think that it has not found Crude oil. The company as mentioned earlier has COMPLETED DRILLING JANUARY, 2007. It is thus only time when the company will COME OUT with official confirmation of the News of OIL FIND. Sources close to me said, "The company completed the drilling and exploration in January, 2007 and some good news is expected.....". The company is also thinking of starting production from some of its abandoned wells. A ramp up the production to around 500--600 Barrels per day additonal capacity in the next few months is also a biggest possibility. The company expects the strong cash flows from the enhanced output to fund the development of its other oil fields. It is has already evaluated the seismic data of its recently acquired two oil & gas fields: Ognaj and Karjisan and GOOD NEWS IS EXPECTED IN THIS FRONT ALSO. The initial study indicates that there is scope for additional production by carrying out maintenance (or workover) drilling in some of the existing but abandoned wells.

Unlike its peers, SETL has not invested in exploratory blocks and all of its oil fields are located in the category I, sedimentary basin that has a track record of proven commercial production. This means that it is not exposed to the inherent risk associated with the exploration business UNLIKE ITS PEERS.

Over the past few years, the promoters have gradually hiked their stake by 7.5% through a reduction in the equity capital from a buyback of shares and an increase in the absolute number of shares held by them. This reflects the management's confidence in the business. At an enterprise value (EV)/reserve of $0.7 per barrel of oil & oil equivalents (boe), the stock is trading at relatively much cheaper valuations as compared with the other domestic companies like Hindustan Oil Exploration Company (HOEC) and Oil and Natural Gas Corporation (ONGC). Globally, exploration and production (E&P) companies command a valuation in excess of $9---10 per boe of the estimated proven and probable (2P) reserve. The stock is expected to get re-rated with the commercialisation of additional wells and ramp-up in the production. There have been some encouraging developments in (in SETL) the past few years in terms of the recovery of arrears from the government nominee and the settlement with the lending institutions. In February, 22, 2006, the company announced that, "Industrial Finance Corporation of India Limited (IFCI Ltd.) has accepted the OTS amount in the Delhi High Court in February 2006 and accordingly the Company has withdrawn the suit filed in the High Court and now IFCI Ltd. is in the process of withdrawing their claim in the Debt Recovery Tribunal.

It is to be noted that Minsitry of Petroleum and Natural Gas (MoPNG) and Selan Exploration Technology Ltd. (SELAN) had earlier signed a Production Sharing Contract (PSC) for the Karjisan gas field, located in Gujarat, on 16 February 2004.

Moreover, the continued firmness in Crude oil prices globally has also made the development efforts much more lucrative and viable. Consequently, the management has initiated an aggressive plan to develop its oil fields in a phased manner.The Scrip according to me is now headed towards the Rs.500 mark......as starting from FY-2006-07 to 2008-09, the company's EPS would take a quantum jump, due to these new developments.

Premier Explosives Ltd is on the verge of getting another contract from the defence according to the sources close to me...The company has applied for a number of tenders in the defence department. The company will get huge benefits from the overseas joint ventures and also from the value unlocking from selling the assets of the mushroom divison. Also the company has a number of factories in Maharastra, Andhra Pradesh and Madhya Pradesh whose real estate value is tremendous. The stock is headed towards Rs.80--Rs.90 mark.

Vamshi Rubber Ltd is close to finishing the expansion in its 4 acres of Land in Hyderabad. The company off-late has considerably ramped up its marketing and Franchisee networks. The most striking part of the company is that it is able to pass on the increased cost of raw materials to the end users. The last quarter results were simply excellent. The Rubber Prices have started to fall: Please read the news below:

Spot rubber declines on panic Selling:

The Hindu Business Line--->16-02-07

Heavy declines in trend setting Japanese markets hammered domestic rubber prices on Thursday. According to reports, TOCOM hit the lower circuit in its five out of six contracts on speculative selling and bull liquidation mainly following an accelerated bear spell in oil products futures. The physical market lost moderately on buyer resistance amidst selling from traders who rear further fall in prices. RSS 4 declined to Rs.96 and Rs.96.5 a kg respectively at Kottayam and Kochi from Rs.97.5 a kg on Wednesday. The trend was visibly bearish as all major grades including latex lost lacking buying interest.

Futures Weak: The futures market fell further on NMCE. The last traded prices for February contract was quoted at Rs.94.50 ( Rs.97.90), March at Rs.97.65( Rs.99.56), April at Rs.102.73( Rs.104.15) and May Contract at Rs.107.49(Rs.108.99) a kg for RSS 4.

Keep holding Noida Toll Bridge Ltd and Sarda Plywood Ltd......This much for now, till I return back to my work desk......

Best wishes,

Suman Mukherjee

India

www.eindiabrokers.com

www.sumanspeaks.blogspot.com

http://finance.groups.yahoo.com/group/SumanSpeaks/

The Indian Markets Crashes unexpectedly due to too much concern on the possibility of an US Recession and due to trigger of the margin calls: The Red Sea of Europe extended its domain across Indian Mainland: The mayhem is likely to be over by the next Wednesday: I bought some shares in the on the lower circuit (Some in staggered way) like Premier Explosives, BNK Capital Markets and Indo Borax and Chemicals Ltd:

Today the bears took the total control of the Indian Markets as the bulls were taken by the horn and butchered in lots. But strange are the investors and the traders of the Indian Markets!! While the US Fed Chairman Ben Bernanke, hinted of a slowdown of the economy but blew aside a possible recession, Indian markets went down as if the US Recession is imminent, winking aside all the logic and cannons of Investing. The herd mentality of the investors hijacked the market sentiment as it fell and fell as if they have entered at bottomless well. At the end the markets recovered a little, before closing more than 1400 down on the Sensex and Nify nearly touching Penta-Century. Wow.....This is Asia my dear!! Don't worry be happy!!

While there is no denying that the excesses were committed in the markets some days back in the positive side, now the same things is hitting the Indian bourses in the opposite direction. This kind of mindless corrections has become the buzzword of a semi-mature economy struggling to curve a name in the global arena. I do not know why BSE removed the lower level circuit limits to stop the markets to go beyond 10%, levels. Is there a tacit understanding between the short sellers and BSE to take the market to the new lows?? This is the obvious question some investors in the allys of dalal street are asking. If the circuit levels were at that point when the P-note controversy took place, the Index could have been saved from such a huge fall and margin calls would not have been so severe.

It is to be remembered that during that time due to circuit limit at the Sensex, the trading was stopped in minutes after it opened-- a big catastrophe was thus put to rest at that time. But this time due to the high handedness of the regulator, the small investors suffered. Also after Mr.Damodaran took charge of the SEBI, the crashes has become a normal affairs, unlike during the days of Mr.Vajpayee (not the former Prime Minister but former SEBI chairman). This proves who is the better regulator of the two.

Also, these kind of crashes have become a regular affair during the UPA rule. One can recall the efficient management of the Indian Stock Exchanges during the NDA rule. It is worth noting that last time Mr.P Chidambaram was the FM, he got entangled in some stock market related controversy which forced him to relinquish his position. I think this time he being the helm of the affairs and all the secret documents are under his name, it is obvious who has the first hand information of any future market crash. Thus could we assume that some politicians in the UPA government are minting money from the market at the behest of the small investors??? I throw this question to my colleagues and fellow investors.

Now comes the question what next?? As mentioned earlier in a number of my write-ups, Indian fundamental story is still strong and kicking. It cannot change suddenly in matter of some days. If the US market is going for a recession then it is somewhat US problem and we should not be bothered too much. Should we....????!!!!

Though Indian markets are somewhat integrated with its global peers now, but still I think Indian economy is not like the Japanese or the South Korean Economy in such a way that, when the US, has no water then those countries stop taking bath. India has a billion population who are somewhat capable of absorbing the production from the Indian Factories. Indian IT sector these days not only caters to the US clients but also Clients from Europe and other Latin American countries. Hence they could be a little affected if the US slows down a bit, but then if the US slows down a bit, the BPO companies will be the real money spinner as those companies will then outsource the BPO work to the Indian companies in large numbers. But look today, BPO companies also took a hit.....

It is though not true if I say that that the Indian economy is fully insulated from the global slowdown, but then the effects will not be so pronounced as it will happen to other South Asian economies. Take for example while the Indian Banks are not affected by the Sub-prime crisis, there are murmurs that the some Chinese Banks could go for write down of the debts due to sub-prime exposure.

Hence, I think the market at the present is presenting very good buying opportunity for the Investors. With the global meltdown Mr.George Bush might revise his earlier economic package in favour of a more stronger one to bale them out from the financial turmoil, who whimsically gave loans to the persons who does not have the capability to pay the EMIs. I have written about it in my earlier write up...

Though today's market fall took me off guard but I had sent a note to the "Quickie Group" Members to refrain from buying or selling in securities, if the market tanks too much in the early trade. Those who have followed those lines in the opening hours have been saved. But then those who have bought also at the closing trade have not done too wrong, as the Pre-budget rally lurks at a distance.

Kohinoor Broadcasting Corporation Ltd which came out with a spectacular consolidated results for the December, 2006 quarter came down with very low volume indicating that investors are not selling the counter. Indo Borax fell to some enviable levels never thought of in the last 3 months. BNK Capital Market went to the Pre-December, 2007 levels and so is Premier Explosives Ltd and some of my other recommended counters.

Thus those who are holding some of my recommended scrips should average them in a staggered way to make millions from the market. I think too much has been torture has been done to the investors today, and now a "Bright Sunshine awaits". The sky above is clear, but let Wednesday come.....!!!

Global setback, margin calls create havoc on bourses:

The market extended losses for sixth straight day in highlyvolatile trade led by setback in stocks across the globe. Both the niche indices cracked below key physcological levels. The BSE Sensex registered its biggest single day point fall.

The sharp fall was triggered by setback in global markets, selling by foreign institutional investors and margin calls after aproposed US stimulus package failed to soothe fears the US will tip into recession.

The 30-share BSE Sensex declined 1408.35 points or 7.41% to17,605.35, its biggest single-day point fall on a closing basis.The market came-off lower level after trading was briefly haltedafter the steep fall. The Sensex hit a low of 16,951.50 inlate-afternoon trade. At the day's low, the Sensex had declined2062.22 points, the biggest intra-day fall in Sensex ever.

On a closing basis, Sensex's previous biggest single day point fallwas on 18 May 2006, when it had plunged 826 points or 6.75% to11,391 spooked by a government circular on taxing investment gainsand heavy FII selling.

The broader CNX S&P Nifty declined 496.50 or 8.70% to 5,208.80. It had slipped to low of 4,977.10 in late trade. Nifty January 2008 futures settled at 5,203, a discount of 5.80 points as compared tospot closing of 5,208.80.

With today's fall, the BSE Sensex has eroded 3601.42 points or16.98% from a record high of 21,206.77 hit on 10 January 2008.

Small and mid-cap stocks were battered brutally. The BSE Mid-Cap index tumbled 1011.72 points or 11.38% to 7,881.99 while BSE Small-Cap index slipped 1248.79 points or 10.27% to 10,911.66. Both these indices underperformed the Sensex.

All the sectoral indices on BSE registered steep losses. BSE FMCG Index (down 5.62% at 2,173.21), Bankex (down 6.95% to 10,582.01),BSE Capital Goods index (down 6.80% at 17,087.82), BSE IT index(down 5.73% to 3,573.25), outperformed the Sensex.

BSE Power Index (down 10.94% at 3,828.81), BSE Auto index (down9.39% at 4,664.53) and BSE Realty (down 12.83% to 10,479.87), BSE Metal index (down 13.30% at 14,963.38), BSE PSU index (down 10.67%to 8,629.40), BSE Health Care index (down 8.03% at 3,701.62), BSE Oil and Gas index (down 11.95% at 11,089.33), BSE Consumer Durables index (down 8.43% to 5,351.63), BSE TecK index (down 7.58% to3,214.54), under performed the Sensex.

The market breadth was extremely weak. On BSE, 2658 a declined as compared to just 140 that rose. A total of 14 shares remainedunchanged. BSE clocked a turnover of Rs 9299 crore as compared to Rs 8,801.38 crore on Friday, 18 January 2008.

Turnover in NSE's futures & options segment advanced to Rs 82241.65 crore by as compared to Rs 72852.64 crore on Friday, 18 January2008.

All the members of 30-share BSE Sensex pack settled with losses. India's second biggest power utility company in terms of net profitReliance Energy plunged 16.38% to Rs 1,776.05. It was the top loserfrom Sensex pack.

ACC (down 14.53% to Rs 739), NTPC (down 15.20% to Rs 203.15),Reliance Communications (down 13.84% to Rs 605), DLF (down 10.15%to Rs 903.70), Hindalco Industries (down 10.32% to Rs 165.95) andBajaj Auto (down 15.21% to Rs 2064.35), collapsed.

ICICI Bank, the country's largest private sector bank in terms of net profit, declined 5.80% to Rs 1,173.20. ICICI Bank reported 35.2% rise in net profit to Rs 1230.21 crore on 32.50% rise inoperating income to Rs 10338.36 crore in Q3 December 2007 over Q3 December 2006. The results were announced on Saturday, 19 January2008. Meanwhile, ICICI Securities (I-Sec), the broking andinvestment-banking arm of ICICI Bank, is set to hit the market in six months.

India'a largest private sector firm by market capitalization and oil refiner Reliance Industries was down 9.12% to Rs 2,544.20. India's largest pharma company in terms of sales, Ranbaxy Laboratories which held firm in early trade, also succumbed to selling pressure later in a weak market. It declined 6.06% to Rs363.20. The company today said it had settled terms with GlaxoSmithKline on a possible patent litigation for a genericversion of the firm's Imitrex tablets. Under the terms of the settlement, Ranbaxy may sell a generic version, sumatriptan succinate tablets, in multiple strengths in the United States fromDecember 2008, it said in a statement to the BSE.

India's largest telecom services provider in terms of marketcapitalisation, Bharti Airtel slipped 5.22% to Rs 828.25. It signeda $150 million six-year agreement with global IT major IBM forimplementation of IT systems to launch differentiated services inbroadband, media, IPTV and DTH segments.

India's fourth largest software services exporter, Satyam Computers advanced 4.67% to Rs 390, and was the lone gainer from 30-memberSensex pack. The company reported 28.58% rise in net profit to Rs433.63 crore on 35.58% rise in total income to Rs 2266.05 crore inQ2 September 2007 over Q2 September 2006.

Satyam Computer for fiscal 2008, under US GAAP, expects revenuebetween $2,119 million and $ 2,122 million, implying a growth rateof 45% to 45.2% over fiscal 2007. Seperately, the company said ithas entered into a definitive agreement to acquire Bridge StrategyGroup, a Chicago based management consulting firm.

India's biggest oil explorer in terms of market capitalisation Oil& Natural Gas Corporation (ONGC) slipped 7.89% to Rs 1,114.05. The company posted 6.46% fall in net profit to Rs 4366.54 on 1.75% fallin total income to Rs 15983.81 crore in Q3 December 2007 over Q3 December 2006. A

mong side counters, Wire & Wireless India (down 31% to Rs 51.20),IVR Prime (down 29.16% to Rs 255.35), Parsvnath Developers (down28.85% to Rs 292.80), Essar Oil (down 31.55% to Rs 185.75), BajajHindustan (down 28.08% to Rs 197.85), and Sasken Communications(down 28.54% to Rs 197.40), tumbled.

Reliance pack dominated turnover charts on BSE. Reliance Industries was the top traded counter on BSE with total turnover of Rs 663.60crore followed by Reliance Natural Resources (Rs 491.70 crore),Reliance Energy (Rs 466.40 crore), Reliance Petroleum (Rs 456.80crore) and Reliance Capital (Rs 340.50 crore).

Reliance Natural Resources was the volume topper on BSE with total volume of 2.75 crore shares followed by Ispat Industries (2.55crore shares), Reliance Petroleum (2.47 crore shares), TataTeleservices (Maharashtra) (1.53 crore shares) and IFCI (1.49 croreshares). Power Finance Corporation declined 10% to Rs 208.75. It reported50% rise in net profit to Rs 320.49 on 36.70% rise in operating income to Rs 1300.56 crore in Q3 December 2007 over Q3 December2006.

Mahindra & Mahindra Financial Services slipped 12.11% to Rs 278.05 following its plans to sell 1.09 crore shares at Rs 380 per shareto TPG-Axon (Mauritius) and Standard Chartered Private Equity(Mauritius).

Idea Cellular tumbled 11.53% to Rs 120.25. It posted 108.6% spurtin net profit to Rs 237.19 in on 48.80% rise in total income to Rs1708.09 crore in Q3 December 2007 over Q3 December 2006.

Indian markets today underperformed their global peers. European markets, which opened after Indian markets, were in red. Keyindices in United Kingdom (down 2.17% to 5,773.80), France (down2.88% to 4,945.5) and Germany (down 3.06% to 7,090.38) declined.

Asian markets extended early losses. Hong Kong's Hang Seng (down5.49% at 23,818.86), South Korea's Seoul Composite (down 2.95% at1,683.56), Taiwan's Taiwan Weighted (down 0.91% at 8,110.20),China's Shanghai Composite (down 5.14% to 4,914.43), and Japan'sNikkei 225 index (down 3.86% to 13,325.98), edged lower.

The Dow Jones industrial average lost 59.91 points, or 0.49%, at12,099.30, its lowest close in 10 months. The Standard & Poor's 500Index was down 8.06 points, or 0.6%, at 1,325.19, a 16-month low.The Nasdaq Composite Index lost 6.88 points, or 0.29%, at 2,340.02, a 10-month low. US president George Bush on Friday, 18 January 2008, called for apackage of tax cuts and other measures totaling around 1% of USgross domestic product, or up to $150 billion, after weak recentreports on employment, retail sales, factory activity, and housing construction this month suggested the United States -- the world's largest economy --may be heading into recession. Under consideration in the package announced by Bush are ideas like tax rebates, incentives for businesses, and extensions of unemployment insurance. [From Internet]

Defence stocks rally upto 10% as DIPP clears industrial licences

Mumbai, 5 Dec, 2014: Shares of defence related companies are up for second straight session after the Department of Industrial Policy and Promotion (DIPP) licensing committee cleared several industrial license proposals stuck since 2012.

According to reports, of the 34 licences considered by DIPP, seven came from Pipavav Defence; two were from Punj Lloyd Aviation and one proposal each by Tata Motors and Piramal Systems and Technologies.

It has also recommended licenses for 10 defence and explosives manufacturing firms. These include Bharti Shipyard, Aveo Helitronics, Spectrum Infotech, Dusoft Fabrication, Premier Explosives and Shiva Explosives India.

Defence stocks have been rallying for the past few sessions on the back of positive newsflow. The government recently notified FDI limit in the sector to 49 per cent from 26 per cent.

The government also revoked ban on foreign institutional investors' (FIIs) in the sector. The RBI has issued a notification allowing FIIs to invest up to 24 per cent of the equity capital of the defence companies. 

Courtesy: The Economic Times

Sensex opens subdued; IT pivotals dragging feet:Premier Explosives Ltd do not h ave a facory in Nasik, the explosion occured in Premier Explochem Ltd which is not directly related to the former. Money Control message board is spreading wrong information, please be aware:

It was a subdued opening due to weakness in IT pivotals, which drifted lower, tracking an overnight fall in their ADRs. However, metal shares edged up after Shanghai copper and zinc futures rose by their 4% daily limits on Tuesday. At 10:14 IST the Sensex was down just 1.20 points, at 13,878. It had risen from the lower level touched after the initial 63.06-point slide. The BSE clocked a turnover of Rs 568 crore. Maruti Udyog gained nearly 1% to Rs 812.70. Maruti Udyog (MUL) on Monday launched its much-awaited sedan, SX4. Powered by its new global `M' series engine and built on a brand new platform, SX4 comes with two variants priced at Rs. 6.18 lakh and Rs. 6.89 lakh (ex-showroom Delhi). MUL has despatched 1,500 units of SX4 and has decided to gradually roll out the vehicle in the entire country. Metal shares edged up after Shanghai copper and zinc futures rose by their 4% daily limits on Tuesday. Hindalco gained 1.8% to Rs 147.60 and Sterlite Industries advanced 1.2% to Rs 543. Tata Steel rose 1.3% to Rs 559.25, on a media report that it was considering The Singapore Stock Exchange for listing the GDRs issued to mobilise $500 million for part financing its $12.9 billion acquisition of Anglo-Dutch steel maker Corus. IT pivotals drifted lower, tracking an overnight fall in their ADRs. Infosys shed 1.2% to Rs 2013, after its ADR lost 3.67% to $51.92 on Monday. Wipro shed 1% to Rs 549, after its ADR shed 2.3% to $16.58 on Monday. But Satyam Computer rose 0.3% to Rs 461.75, even as its ADR shed 1.5% to $24.59 on Monday. Index heavyweight Reliance Industries (RIL) rose 0.1% to Rs 1607. A strong 52,606 shares changed hands in the counter on BSE. Tata Tea rose 0.18% to Rs 763.60. The company said on Tuesday it had formed a joint venture with China's Zhejiang Tea Import and Export Company to make and sell tea beverage products. The company said it would own 70% of the joint venture. The cost of the project was estimated at Rs 70 crore and would be funded through a mix of equity and debt, Tata Tea said. Tech Mahindra dropped nearly 5% to Rs 1546.25. Tech Mahindra’s consolidated net profit (excluding exceptional items) jumped 120% in Q4 March 2007 at Rs 196.1 crore compared with Rs 89.1 crore in the corresponding quarter of the previous financial year. Revenue surged 108% to Rs 874.5 crore compared with Rs 421.2 crore in the fourth quarter of the previous year. Tech Mahindra incurred a one-time exceptional charge towards an upfront payment of Rs 524.9 crore to a customer and has reported a net loss of Rs 328.9 crore in Q4 March 2007. For the year ended 31 March 2007 (FY 2007), Tech Mahindra’s consolidated net profit, excluding exceptional and prior period items, at Rs 612.6 crore, registered an increase of 160% over the last financial year. Its consolidated revenues grew 136% and stood at Rs 2929 crore. Asian stocks gave up early gains on Tuesday, as nervous investors worried whether a global rally would run out of steam. The Dow closed at a record on Monday (7 May) for the fifth day in a row, buoyed by Alcoa's $27 billion bid for Alcan. Alcoa, the world's largest aluminum company, pushed the Dow and the S&P 500 higher with a gain of 8%, leading the latest round of takeover deals that have lifted the market in recent months. The Dow gained 48.35 points, or 0.36%, to end at a record of 13,312.97. Earlier, the Dow also hit an all-time intraday high of 13,317.69. The Standard & Poor's 500 Index advanced 3.86 points, or 0.26%, to finish at 1,509.48, off a fresh 52-week high at 1,511.00. But the Nasdaq Composite Index dipped 1.20 points, or 0.05%, to close at 2,570.95. Earlier, the Nasdaq also reached a new 52-week high at 2,580.06. A spate of merger and acquisition activity, as well as increasingly eye-popping takeover bids have helped propel many global indices to record highs, supporting the view that the long bull market has to run further.

Sheen returns to metals but a high degree of volatility prevailed in the market: Shares from small as well as mid-cap spaces attracted attention of buyers. Many analysts feel that demand will shift towards these counters, since their valuations are still attractive and on the earnings side, have outperformed their large-cap peers: The explosion actually took place in Premier Explochem Ltd, which is not directly related to Premier Explosives Ltd according to preliminary information from the sources. Details are still awaited on this front. The company will declare results on the 1st or 2nd week of June, 2007, which is just a stones throw from now: Southern Online Bio Technologies Ltd could start operations at any time from now and hence keep holding the shares of the company with occassional addition on all declines: Keep holding Gateway Distriparks Ltd with a SL of Rs.173. It was recommended at Rs.159 and at Rs.167. The company offlate declared a Bonus Issue for its Shareholders:

Metal producers were in demand on renewed buying owing to firm metal prices on the London Metal Exchange (LME). The BSE Metal Index was the top-gainer from among sectoral indices, in early afternoon session of trade, but had pared gains. The BSE Metal Index surged to a intra-day high of 10,146.47. But is up just 0.29% to 10,026.12. Ispat Industries (up 10.10% to Rs 16.70), Jindal Steel & Power (up 1.10% to Rs 2925), JSW Steel (up 0.28% to Rs 604.50), Sterlite Industries (up 1.47% to Rs 541), Tata Steel (up 0.56% to Rs 556), NALCO (up 1.40% to Rs 252), and Maharashtra Seamless (up 2.26% to Rs 587) ahd gained. After a strong opening, the BSE Sensex pared gains due to profit booking at higher levels, as had been the case of the past few trading sessions. However, a high degree of volatility prevailed in the market during this period. At 13:24 IST the BSE Sensex was up 32.92 points, at 13,967.15. It opened with an upward gap, at 14,044.71, buoyed by strong demand for index pivotals, especially for Reliance Industries (RIL), with firm Asian markets providing the initial thrust. The Sensex also advanced to a high of 14,067.07, its low for the day being 13,951.76. The total turnover on BSE amounted to Rs 2622 crore. The market-breadth, which reflects the condition of the broader market, was going strong on BSE. Shares from small as well as mid-cap spaces attracted attention. Analysts feel that demand will shift towards these counters, since their valuations are still attractive and on the earnings side, have outperformed their large-cap peers. On BSE, 1,342 shares advanced as compared to 1,114 that declined. Also, 70 stocks remained unchanged. Among the 30-Sensex pack, 17 advanced while the rest declined. Ranbaxy laboratories was the top-gainer, up 1.75% to Rs 388.65, on a volume of 2.06 lakh shares. Index heavyweight Reliance Industries (RIL) advanced 1.52% to Rs 1607, as 6.05 lakh shares changed hands on BSE. It fluctuated in a range of Rs 1617.80 – Rs 1593. Hero Honda (up 1.44% to Rs 708), HDFC (up 0.83% to Rs 1648), and L&T (up 0.63% to Rs 1708.50) were among the other gainers. Satyam Computers on the other hand was the top-loser, down 2.03% to Rs 461, on a volume of 2.26 lakh shares. Other frontline IT pivotals were not spared either. Infosys Technologies (down 1.07% to Rs 2050.10) and Wipro (down 1.57% to Rs 558.50) had eased. IT shares slipped following a rise in the rupee to a fresh nine-year high against the dollar on Monday, as the market tested how far the central bank would let it appreciate before intervening. By 9:14 IST, the partially convertible rupee was at 40.5450 per dollar, its highest level since May 1998, and stronger than Friday's close of 40.8450/8600. The rupee’s surge is a cause of concern for IT firms, as it directly impacts their revenue and profits, a lion’s share of which is accounted for by exports. Dr Reddy’s (down 1.01% to Rs 712.10), Hindalco (down 1.05% to Rs 146.60) and ICICI Bank (down 0.75% to Rs 847.55) were the other prominent losers. Mold-Tek Technologies jumped 5% to Rs 81.40, after its board of directors approved the acquisition of US-based Cross Roads Detailing Inc. The acquisition entails a graded earn-out or payout of $1.3 million to the shareholders of Cross Roads, Mold-Tek said in a statement. Foreign funds resumed buying on Thursday (3 May) after they had turned sellers in two trading sessions, on 27 April and 30 April. FIIs were net buyers to the tune of Rs 56.20 crore on 3 May 2007, as compared to their outflow of Rs 304.60 crore on 30 April 2007. The market was closed on 1 May 2007 and 2 May 2007, on account of public holidays. The net inflow from FIIs of Rs 56.20 crore on 3 May 2007, was a result of gross purchases worth Rs 2753.50 crore and gross sales to the tune of Rs 2697.30 crore. But provisional data showed that foreign funds had turned sellers again on Friday (4 May), the day when the Sensex lost 144 points, led by a fall in index heavyweight Reliance Industries (RIL). FIIs were net sellers to the tune of Rs 131 crore on Friday. Domestic institutional investors were net buyers to the tune of Rs 299.10 crore on Friday. The two key events to watch out for this week, are the outcome of elections in Uttar Pradesh (UP) and the outcome of US Federal Reserve’s meeting on Wednesday (9 May). The seventh and final phase of polls in Uttar Pradesh is scheduled for on Tuesday (May 8) and counting of votes is due on 11 May 2007, with results expected the same day. The UP vote is seen as a barometer of the national political trends. US stocks climbed on Friday, lifted by talk of potential takeovers and after the influential non-farm payrolls data showed the world's biggest economy posted its slimmest gain in jobs in more than two years for April, helping ease inflation concerns. Dow rose 23.24 points (0.18%), to a record close of 13,264.62. The tech-laden Nasdaq Composite Index added 6.69 points (0.26%), to end at 2,572.15. The main focus for the week will be an outcome of the US Federal Reserve meeting on Wednesday and, while no one expects a rate move, investors are keenly awaiting the central bank's latest assessment of the world's biggest economy. Oil prices retreated below $62 a barrel in Asian trading Monday following a sharp fall late last week on continued expectations of weak crude demand. Light, sweet crude for June delivery dropped 26 cents to $61.67 a barrel in electronic trading on the New York Mercantile Exchange midmorning in Singapore. On Friday, the contract dipped $1.26 to settle at $61.93 a barrel. Meanwhile, the government has proposed to remove loopholes in foreign direct investment (FDI) norms that allow foreigners to own stakes in Indian companies higher than the sectoral caps. The new guidelines, however, will not affect the existing foreign investments. The proposed change is to bring assorted forms of indirect foreign holding under the FDI cap, as well as to clearly define the contours of indirect holding. At the moment, there are four distinct FDI slabs — ranging from 100% to a complete bar in some sectors. The telecom sector has a 74% sectoral cap, the aviation sector has a 49% sectoral cap, and the cap for the insurance sector stands at 40%. [With inputs from the Internet and agencies]

Sensex sheds 71 points amidst thin volumes: Chandra Prabhu International Ltd and Nagpur Power & Industries Ltd, Premier Explosives Ltd, hits the buyer Freezes: G M Breweries Ltd goes for profit booking, after Declaration of Results: BSEL Infrastructure Realty Ltd goes down marginally even after Securing a New Contract and Fantastic results, proving that the quality of results is not the Only Criterior for the rise and fall of a Scrip: My recommended pick Ganesh Housing Corporation Ltd(Recommended at Rs.60, pre-bonus in 2004) has given the investors 6 times profit: Now Money Control Moderators are promoting my Recommended pick Shivalik Global but earlier they did not allow to post messages on it: As mentioned during the market hours I have taken some position in N R International Ltd at Rs.24 and exited Perfect Circle Ltd today: Crude Oil prices rise up in the international markets:

The holiday mood hijacked the overall mood on the Key Indian bourses as the benchmark Sensex drifted lower on thin volumes. The Sensex was range-bound for a better part of the session and the fall accentuated only towards the latter part. Caution was exercised by the Investors & Punters, ahead of Reserve Bank of India (RBI)’s quarterly review of monetary policy on Wednesday, 31 January 2007. The central bank is expected to raise short-term interest rates by 25 basis points at the review meeting. The 30-share BSE Sensex lost 70.76 points (0.5%), to settle at 14,211.96. The S&P CNX Nifty shed 23.25 points (0.56%), to settle at 4,124.45. Both indices had settled at lifetime highs last Thursday, 25 January 2007. Interest rate sensitive banking shares weakened in the latter part of trading due to concerns of rate hike. IT shares were subdued-to-weak throughout the day. Index heavyweight Reliance Industries (RIL) held positive zone for most of the day and buffered the Sensex's fall. The Sensex had lost nearly 100 points at one of time in late trading, to a low of 14,185.92. It had opened firm with the Sensex rising as many as 33.82 points, to a high of 14,316.54, at the onset of trading. It soon lost ground and slipped into the red. The market-breadth was even by the end of the session in contrast to a strong breadth in the afternoon. Against 1,324 shares rising on BSE, 1,322 declined. Just 47 shares were unchanged. The BSE clocked a turnover of Rs 3703 crore, compared to Thursday’s Rs 4733 crore. The BSE Small-Cap Index ended flat at 7,576.51, while the BSE Mid Cap index gained 11.88 points (0.2%), to finish at 6,100.86. BSE’s Metal sector index was the top gainer among sectoral indices. It rose 134.16 points (1.39%), to settle at 9,759.61. The BSE Oil & Gas sector index rose 25.77 points (0.39%), to end at 6,716.68. With a fall of 154.05 points (2%) to 7,292.78, the BSE Bankex was the top loser from among sectoral indices. The BSE IT sector index shed 49.92 points (0.9%), to settle at 5,315.57. Reliance Industries (RIL) rose nearly 1% to Rs 1382.85. As many as 4.4 lakh shares changed hands in the counter on BSE. RIL held positive zone for most of the day and buffered the Sensex's fall. Reliance Communications (RCL) surged 4% to Rs 454.85, partly due expectations of strong Q3 results, and partly on shareholders' approval for transferring the company's wireless towers (CDMA and GSM) and related infrastructure to its subsidiary, Reliance Telecom Infrastructure (RTIL). RCL unveils Q3 results on 31 January 2007. Tata Steel rose 2% to Rs 520, extending last week’s surge. As per reports, an auction will be held for Anglo-Dutch Steelmaker Corus on Tuesday, which will last for 10 hours. UK's takeover watchdog has set 30 January 2007, as the deadline for Tata Steel and CSN to make revised offers for Corus. Hitherto, CSN enjoys an edge over its Indian rival with a higher price bid of 515 pence a share compared to Tata Steel’s 500 pence per share. State-run Steel Authority of India (Sail) lost 0.1% to Rs 111.50. Sail today posted a net profit of Rs 1471.19 crore in December 2006 quarter compared to a net profit of Rs 656.07 crore in the December 2005 quarter. L&T (up 0.7% to Rs 1625) firmed up in mid-afternoon trade soon after its Q3 results hit the market. L&T posted a net profit-after-tax of Rs 343.90 crore in December 2006 quarter compared to Rs 259.27 crore in December 2005 quarter. Bhel rose 2% to Rs 2498, after its board announced a surprise 1:1 bonus along with strong Q3 results after trading hours on Thursday (25 January 2007). Hindalco Industries rose nearly 3% to Rs 180.45, after reporting a surge in net profit in December 2006 quarter, to Rs 643.90 crore from Rs 336.20 crore in December 2005 quarter. The results were unveiled after trading hours on Thursday, 25 January 2007. NTPC rose nearly 4% to Rs 142.75, ahead of its board meeting on Wednesday (31 January 2007), to consider December 2006 quarter results. On the same day, the company’s board will also consider an interim dividend for shareholders. ICICI Bank lost 3.3% to Rs 952, State Bank of India shed 1.9% to Rs 1153 and HDFC Bank lost 1.6% to Rs 1050. Cigarette major ITC shed 3% to Rs 173. ITC’s board meets on Wednesday (31 January 2007) to consider Q3 results. Tata Motors shed nearly 3% to Rs 899. Maruti Udyog was down 0.5% to Rs 937.90, up from the session’s low of Rs 925. IT shares slipped on profit-taking. Wipro lost 3% to Rs 630, Satyam Computer shed 2.9% to Rs 462.50 and TCS shed 1.6% to Rs 1292. IDBI jumped 7% to Rs 102.55. The stock rose on a high volume of 47.6 lakh shares on BSE. Last week, IDBI reported 6% growth in net profit of Rs 126.79 crore in December 2006 quarter. The latest results include Rs 19 crore profit from the working results of the recently-merged United Western Bank (UWB) and, therefore, are not comparable. Cairn India rose 1.4% to Rs 150.15, on a heavy volume of 35.2 lakh shares. British oil explorer and Cairn India’s parent, Cairn Energy, expressed confidence that a deal could be agreed with the Indian government and Cairn's partners for constructing a pipeline to deliver the company's crude oil to the market. The company said the agreement is likely within the first six months of this year. Indian Oil Corporation rose 1.2% to Rs 498.75, after reporting a net profit of Rs 1059.01 crore in the December 2006 quarter compared to a net loss of Rs 6.48 crore during the December 2005 quarter. IOC’s total income rose to Rs 55218.42 crore from Rs 44874.06 crore. Dishman Pharma was down 0.8% to Rs 246.60. It also reported an 8.8% growth in net profit in December 2006 quarter to Rs 19.85 crore (Rs 18.24 crore). Maharashtra Seamless was flat at Rs 520.35. It reported 44% growth in net profit in December 2006 quarter to Rs 60.02 crore (Rs 41.73 crore). Net sales rose 26.7% to Rs 350.48 crore from Rs 276.56 crore. Sun Pharmaceutical Industries lost 1.1% to Rs 1023.20. The company said on Monday its third quarter consolidated net profit rose 36% to Rs 199 crore. Aditya Birla Nuvo rose 0.5% to Rs 1237. The company reported a net profit of Rs 55.34 crore in December 2006 quarter compared to a net profit of Rs 55 crore in December 2005 quarter. Hinduja TMT lost 1.5% to Rs 710. Hinduja TMT and UK-based business consulting and outsourcing firm, Centric, have entered a joint venture with law firm Fox Mandal Little. The joint venture, to be called Centric LPO, will provide legal outsourcing services to multinational companies and various international law firms, Hinduja TMT said in a statement on Monday. Century Enka dropped 5% to Rs 147. It reported a net profit of Rs 1.92 crore in December 2006 quarter against a net loss of Rs 6.84 crore in December 2005 quarter. Total income went up to Rs 261.12 crore from Rs 250.37 crore. See even after declaring Net Profit the shares of the company dipped. Hence as mentioned earlier Dead Results of the past quarters have very little effect on the company's rise and fall in a major way(not the share price rise and fall) as most of the results are maniputed and tuned according to needs..... The good or bad results does in no way suggest that the company will be able to do well in future, unless otherwise stated. So one has to look beyond results to generate income from the markets. This is the fundamental truth and applies to companies of all hues----starting from "Milk" making companies to "Daru" making companies. Development Credit Bank rose nearly 0.4% to Rs 79.80, after reporting a net profit of Rs 2.77 crore in December 2006 quarter, against a net loss of Rs 2.39 crore in December 2005 quarter. Total income went up to Rs 118.90 crore in the Dec-06 quarter from Rs 89.44 crore in December 2005 quarter. Finolex Industries rose 2.5% to Rs 88.50, after the company reported a surge in net profit in December 2006 quarter to Rs 22.88 crore from Rs 14.67 crore in December 2005 quarter. This is what is called tunig of profits according to needs and circumstances. Sun TV was down 2% to Rs 1660. The company posted a profit-after- tax of Rs 59.77 crore in the December 2006 quarter compared to a net profit of Rs 39.90 crore in the December 2005 quarter. Indraprastha Gas rose 1.1% to Rs 118.70, after it reported 21% growth in net profit in December 2006 quarter to Rs 35.48 crore over the year ago period (Rs 29.32 crore). Net sales edged up to Rs 159.87 crore from Rs 137.04 crore. Suven Life Sciences jumped 5% to Rs 177.80, after the company’s board suggested a liberal 1:1 bonus and also recommended a sub-division of equity shares from face value of Rs 2 each, into that of Re 1 each. Q3 results have been good so far. Major results scheduled over the next two days are Tata Steel, ITC, NTPC and Reliance Communications. After corporate earnings and the RBI credit policy review, the focus will shift to the Union Budget 2007-08 and related expectations. My recommended stock G M Breweries Ltd fell even as its Sales were up and the profits were Almost Flat considering, sequentially and Q-o-Q. The sales of the company is scheduled to give a quantum jump, when its expansion is completed. The company has to set aside some portion of the profits (which is shown as expenditure on the result sheet) for the Capex programme. The company as mentioned earlier is a major player in the Country liquor segment which is getting benefited due to government ban on the "illicit" liquor in Maharastra. The company could end up with a net profit of Rs.11.8 --Rs.12 Cr in FY-06-07. Those who are holding continue to hold the scrip with a SL of Rs.100, as the EPS of the Scrip tells the whole story. Please compare the EPS of Khoday (I) Ltd which is hitting the circuits or Macdowells or Shaw Wallace with that of this company....did u see the difference? The most illuminating point is that the company is still able to maintain good sales and profits. But then this market seems to over-react in everything because of some Self-professed analysts, who did the same in Case of Coral Finance & Housing Ltd (at Rs.17) and Chandra Prabhu International Ltd (at Rs.6.5). It will be better if one ignores the writing of those "Morons". If Rs.2.36 Cr Net Profit on a Sale of Rs.44.64 Cr is bad result then "God" help those persons who are saying so... I earlier got some mails in which it mentioned, that the company came up with Negative Results". I first wondered what is "Negative results", does it indicate Loss and did I see the results correctly ?!!! And then I found those comments / mails, are just bull-hits in disguise..as it happended in many of my recommended picks!!! Surprised!!! Yes this is the quality of Equity Analysts which Roam in different Groups, flaunting different Yahoo IDs. Now there is another batch of self-styled analyst--the MMB Moderator who in the name of maintaining sanity in the Board do all kind of Manipulative things including sending taunting remarks of genuine posts and then not allowing replies to those..Shit!! CNBC could stoop so low, I cannot imagine.... I am still firm on my taget of Rs.250---Rs.400 in 12 months--18 months time frame. This is a wonderful company with investor friendly management. My recommended picks Nagpur Power & Industries Ltd and Chandra Prabhu International Ltd got locked in the buyer freezes. Premier Explosives which was recommended at the Lower circuit (amidst hue and cries from some self styled pundits) some days backs also got locked in the Upper Circuit in the early part of the trade before cooling of a bit. The stock which is also recommended by a brokerage house is a safe stock to invest with a limited downslide. I am still maintaining a buy on BSEL Infrastructure Realty Ltd after today's development. The company is trying to have a pan India presence under a very effective leadership. I think the stock could move like Vijay Shanti Builders in future. My sources in Kolkata are saying that in addition to India Bulls, J P Morgan Stanley is very bullish on the counter. A Very well-known investment analysts from Kolkata Mr.Siddhartha Chatterjee had also recommended the stock in one of his seminars some days back. Siddhartha Da is very bullish on the stock according to a source. I am trying to find out why Vishal Exports Overseas Ltd is not moving even after positive cues from the global market. I am still holding the scrips of the company and accumulating on declines. THE PRE-BUDGET RALLY IS ABOUT TO BEGIN WITHIN A SHORT TIME AND THE SCRIPS COULD RISE ON THE CUES FROM BUDGET. PLEASE DO NOT SELL SHARES OF COMPANIES AS THIS IS THE TIME TO ACCUMULATE ALONG WITH MILD PROFIT BOOKING. European markets were mixed in early trade. London’s FTSE 100 index was up 0.06%. Germany’s DAX and France's CAC 40 were down by 0.09% each. Asian markets also traded mixed. Key benchmark indices in Hong Kong, South Korea and Taiwan were down between 0.2 - 0.9%. Key indices in Japan and Singapore were up between 0.2 - 1.3%. Oil prices firmed up. Nymex crude was up 44 cents, at $55.86 a barrel, on Monday. The market will remain closed on Today (30 January 2007) on account of Moharram. More in the following positings... Best wishes, Suman Mukherjee India. www.eindiabrokers.com www.3paisa.com