Tuesday, Apr 5 - Morning brief for the stock market:

Stocks To Watch: Suzlon Energy, Idea Cellular, GVK Power, Tecpro

Tuesday, Apr 5 - Morning brief for the stock market:

TOP EVENTS TODAY

* Board Meetings of:

+ Punjab Alkalies & Chemicals to consider receiving technical/financial bids for disinvestment by Punjab State Industrial Development Corp.

INDICATORS (previous session)

* NSE provisional net buy/(sale) in bln rupees, Apr 4: FII 6.04, DII (3.89)

* FII NSE futures net buy/(sale) in bln rupee, Apr 4: index 13.93, shr (5.11)

* Sensex 19,701.73, up 281.34 points; Nifty 5,908.45, up 82.40 points.

* Crude: $108.47/bbl; Rupee: 44.59/$1; Gold: $1,436.50/ounce; 10-yr yld: 7.9820%

OUTLOOK

* Local shares are seen opening flat on subdued global cues. They could rise later as foreign institutional investors continue to pour funds, particularly in the mid- and small-cap segment.

GLOBAL STOCK MARKETS

* US shares ended flat on Monday as gains due to a slew of merger and acquisition deals outweighed losses in chipmakers' shares.

* Key Asian share indices were subdued, with Japan's Nikkei slumping 1%, as semiconductor stocks declined after data showed average sales of global chips fell 1.1% in February from a month ago.

SECTOR NEWS

* AGRO FOOD: International Finance Corp plans to invest up to $30 mln in Karnal-based basmati rice processing company Dunar Foods.

* BANKING: Finance ministry has sought strict norms for non-banking finance companies that wants to convert into banks or promote banks. (ET)

* ELECTRICITY: India's 2010-11 (Apr-Mar) electricity generation 811.10 bln kWh was up 5.6% on year.

* ENERGY: State-owned oil marketing companies' under recoveries may reach a record 1.74 trln rupees in FY12 if crude oil prices were to stay at current levels.

* EXCHANGES: Forward Markets Commission has summoned National Multi Commodity Exchange promoter in connection with a probe into alleged financial irregularities in the exchange.

* FOREIGN INVESTMENT: International Finance Corp the private investment arm of World Bank is planning to increase equity investments in India. (Mint)

* HOSPITALITY: New York Stock Exchange-listed Wyndham Hotel Group has signed up seven more properties in India for its 'Ramada' and 'Days Inn' brands.

* TAX: Finance ministry is likely to exceed total tax collection of 7.82 lakh crore for 2010-11 (Apr-Mar). (BS)

STOCKS

* ASHOK LEYLAND: Total commercial vehicle sales in March rose 47% on year to 12,168 vehicles.

* CAIRN INDIA: Petroleum Secretary has said Cairn Energy may need no objection from OIL AND NATURAL GAS CORP to sell stake in the company to

Vedanta Resources.

* CESC: Has submitted bids to acquire majority stake in state-owned power plants and distribution companies in Nigeria. (DNA Money)

* DABUR: Company, EMAMI opts out of race to buy controlling stake in Indian subsidiary of Germany's Henkel. JYOTHY LABORATORIES is the frontrunner to buy the arm. (ET)

* ELECTROSTEEL CASTINGS: Forms joint venture with Dart Energy for Parbatbur coalmine degassing project.

* FORTIS HEALTHCARE: Arm Fortis Malar Hospitals buys 170-bed Oasis Hospitals in Sri Lanka. (ToI)

* GAIL (INDIA): Arm GAIL Gas has formed a joint venture with a Gujarat civic body for city gas distribution in and around Vadodara.

* GRAVITA INDIA: Along with arm Gravita Exim acquired 60% stake Jammu-based K. M. Udyog which has lead refining capacity of 7,200 tn/year.

* GVK POWER & INFRASTRUCTURE: Is set to acquire Hancock Coal in Australia and has signed exclusivity agreement. Deal size likely around $8 bln. (BS)

* IDEA CELLULAR: Seeks vacation of Delhi High Court ex-parte stay on Spice merger.

Promoter entity Aditya Birla group denies talks of stake sale in the company with South Africa's MTN group. (ET)

* LUPIN: US firm Allergan sues US arm of the company for patent infringement over ophthalmic solution Zymaxid. (FE)

* MOTHERSON SUMI SYSTEMS: Delhi High Court has approved merger of wholly owned arms, Balda Motherson Solution and Motherson Tradings with the company.

* RELIANCE INFRASTRUCTURE: Will continue with its proposed 7.2 km sea link between Worli and Haji Ali in Mumbai even as Maharashtra government plans to explore a coastal road instead as it would be much cheaper. (BS)

* SATRA PROPERTIES: Two promoters buy 10.15% in the company from Sicom Investments.

* SPICEJET: Promoter KAL Airways has pledged nearly 14.84% of the company's shares so far. It holds 38.61% stake in the company.

* STERLITE TECHNOLOGIES: Has received letter of intent for acquisition of two transmission units by PFC Consulting Ltd. (BL)

* SUZLON ENERGY: Has raised its stake in Germany's REpower Systems to 95.16% and plans to acquire the remaining shares to make it a wholly-owned arm.

Company's issue to raise up to 50 bln rupees through 5-year Foreign Currency Convertible Bonds convertible at 46.05 rupees each opened Monday.

* TATA MOTORS: Paid annual lease rent of 900 mln rupees to renew Singur land lease for a year. (Mint)

Nanao production to increase as demand revives in March. (Mint)

* TECPRO SYSTEMS: Has received an order worth 2.56 bln rupees from NTPC for a coal handling plant in Jharkhand.

* UNITECH: Foreign telecom partner Telenor says made India foray post 2G spectrum allotment to the company.

* WIPRO: Former Chief Executive Officer Suresh Vaswani is likely to head Dell Services in India. (ET)

Monday, Apr 4 - Morning brief for the stock market:

Stocks To Watch: Cairn India, cement cos, Hero Honda, Diamant Infra

Monday, Apr 4 - Morning brief for the stock market:

TOP EVENTS TODAY

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* Nifty companies detailing Jan-Mar earnings:

+ Bharat Heavy Electricals (provisional).

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INDICATORS (previous session)

* NSE provisional net buy/(sale) in bln rupees, Apr 1: FII 4.15, DII (4.13)

* Institutional net buy/(sale) in bln rupees, Mar 30: FIIs 10.43, MF (3.58)

* FII NSE futures net buy/(sale) in bln rupee, Apr 1: index (1.23), shr (6.47)

* Sensex 19,420.39, down 24.83 points; Nifty 5,826.05, down 7.70 points.

* Crude: $107.94/bbl; Rupee: 44.59/$1; Gold: $1,428.1/ounce; 10-yr yld: 7.9820%

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OUTLOOK

* Share indices are seen opening flat to slightly up on positive cues from most overseas markets, but gains may be limited by profit sales.

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SECTOR STOCKS OUTLOOK

* AUTO: May rise following robust sales data for March.

* BANK: May slip on profit sales; Jan-Mar results eyed.

* CAPITAL GOODS: To trail broad market, profit sales likely.

* CEMENT: Seen up on strong growth in despatches and output for March.

* FMCG: To trade in range with upward bias; HUL eyed

* IT: Seen up following order wins and acquisitions.

* OIL: Seen subdued on rising crude oil prices.

* PHARMA: May raise on stock-specific action.

* STEEL: Seen up on hope of robust Jan-Mar earnings.

* TELECOM: May gain as counters have outperformed market.

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GLOBAL STOCK MARKETS

* US shares ended up on Friday as better-than-expected non-farm payrolls data for March and an unexpected drop in unemployment rate in the US boosted investor confidence in the nation's economic recovery.

* Most key Asian share indices were trading slightly up driven by optimism about an economic recovery after strong US jobs data.

SECTOR NEWS

* AUTOMOBILE: Eicher Trucks and Buses has posted 33% on-year rise in total sales to 5,065 units and 108% on-year gain in exports to 343 units for March.

* AVIATION: Civil aviation ministry is likely to seek government approval to hive off aircraft maintenance and ground-handling services of Air India into a separate business units. (ET)

Global airport operators Changi Airport, Aeroports De Paris, Fraport AG, TAV Investment have shown interest to build Navi Mumbai airport. (FE)

* BANKING: Dutch lender Rabobank has received licence from the Reserve Bank of India for banking operations in India.

Banks have taken up debt recast of six microfinance institutions involving an exposure of 90 bln rupees. (ToI, Sat)

Standard Chartered Bank plans to sell a 725-day loan of $500 mln taken by the Essar Group in Mar 2010 to finance acquisition of US' Trinity Coal Corp. (Mint, Sat)

* COAL: State-owned Singareni Collieries Co has received sanction of 40 bln rupees loan from POWER FINANCE CORP for its 1,200 MW thermal power project in the Adilabad, Andhra Pradesh.

* DIVESTMENTL: Government will review revival plans of all sick enterprises before formulating a divestment policy in 45 loss-making state-run companies.(ET, Sat)

* ECONOMY: Reserve Bank of India Executive Director says the process of fiscal consolidation will further strengthen in 2011-12 (Apr-Mar).

* ENERGY: Government may curb Chinese funds in Indian power companies. (FE)

* ENVIRONMENT & FOREST: Ministry of Environment & Forest is proposing for a minimum support price for minor forest produce like bamboo. (ET)

* FERTILISER: Government repurchased five fertiliser bonds worth 57.63 mln rupees on Thursday.

Gas-based fertiliser units may have to pay more for their feedstock as government mulls pooling its price with that of much-costlier imported liquefied natural gas. (FE, Sat)

Government is considering a new urea-pricing model, which entails an up to 10% rise in urea prices from 5,310 rupees per tn currently. (ET, Sat)

Government has approved a three-step strategy to create a foolproof system for transferring fertiliser subsidy directly to farmers. (BS, Sat)

* GOVERNMENT: Will raise 120 bln rupees via auction of three dated securities on Friday.

Government asks all nodal ministries and departments to seek clearance from not only the finance ministry but also the Cabinet before selling off or leasing out government land. (Indian Express, Sat)

Unique ID Authority of India postpones bid as HP, IBM disagree with the tender process. (ET)

* INFORMATION TECHNOLOGY: US lawmakers seek changes in US work visa programme that may make it more expensive for companies to bring workers into the country on temporary assignment. (DNA Money)

* MINING: Orissa Mining Corp to file a fresh writ in the Supreme Court against the environment ministry against the ban on mining in Niyamgiri hills. (var, Sat)

Government rejects proposal of miners like COAL INDIA and Singareni Collieries Co to hand over their unviable coal mines to Indian and foreign investors through a competitive bidding process. (BL, Sat)

* POWER: NTPC and GAIL (India) in pact to set up gas-based power projects in India and abroad. (HT, Sat)

* RAILWAYS: To invite bids for two locomotive projects next months. (FE)

* STOCK EXCHANGES: Government is mulling National Stock Exchange's request for more time to reduce stake in National Commodity and Derivatives Exchange.

* TAXATION: The Central Board of Excise and Customs has changed service tax rules, making service providers liable to pay tax as soon as they issue an invoice to their clients. (ET, Sat)

* TELECOMMUNICATIONS: Madras High Court reserves order on whether Vodafone can object to merger proposal of Essar Telecommunications Holdings with Indian Securities. (var, Sat)

Central Bureau of Investigation names former telecom minister A. Raja, Unitech Wireless Ltd, Etisalat DB Telecom India Pvt Ltd, RELIANCE

COMMUNICATIONS among others in its first chargesheet in the scam related to allocation of 2G spectrum telecom licenses.

STOCKS

* ACC: Has posted sales of 2.18 mln tn in March versus 1.94 mln tn a year ago.

Company's cement output in March stood at 2.19 mln tn versus 1.94 mln tn a year ago.

* AMBUJA CEMENTS: Has posted cement sales of 2.05 mln tn in March versus 1.95 mln tn a year ago.

Company's cement output in March stood at 1.95 mln tn versus 1.92 mln tn a year ago.

* BALLARPUR INDUSTRIES: Postpones listing of arm BILT Paper Plc on the London Stock Exchange as it expects re-rating of the Indian paper industry.

* BANK OF INDIA: Bank's New Zealand arm has received bank status from Thursday.

* BGR ENERGY SYSTEMS: ties up debt of 30.80 bln rupees to set up a supercritical boiler and turbine manufacturing facility in Chennai, which it is building in partnership with Japan's Hitachi. (DNA, Sat)

* BHARAT ELECTRONICS: Provisional turnover for 2010-11 (Apr-Mar) stood at 55.5 bln rupees, up 6.3% on year.

Exports during 2010-11 (Apr-Mar) stood at $41.69 mln, up 76% on year.

* BHARAT HEAVY ELECTRICALS: May receive an order worth 40 bln rupees from state-owned coal miner Singareni Collieries Co in two-three months.

* CADILA HEALTHCARE: Says the company has met its $1 bln revenue target for 2010-11 (Apr-Mar).

* CAIRN INDIA: Cabinet Committee on Economic Affairs likely to discuss on Wednesday Vedanta's offer to acquire controlling stake in Cairn India.(ToI, Sat)

* CENTURY PLYBOARDS: To venture into the readymade furniture business within a year. (DNA, Sat)

* COAL INDIA: Ministry of power asks company to import coal to meet 30 mln tn of shortfall in its total committed supply to power plants in India. (DNA, Sat)

* COMPACT DISC INDIA: To mull share delisting price on Apr 12.

* DIAMANT INFRASTRUCTURE: Has received orders worth 423 mln rupees.

* DR. REDDY'S LABORATORIES: Company's wholly-owned US arm Promius Pharma is in pact with Valeant Pharmaceuticals International Inc to market the latter's dermatological cream Cloderm in the US.

* DUNLOP INDIA: Is mulling closing its factory in Sahagunj, West Bengal. (BL, Sat)

* GITANJALI GEMS: The company has acquired Italian jewellery chain Giantti Italia for $15 mln. (BS, Sat)

* GREYCELLS EDUCATION: Religare Finvest acquires 6.66% stake in company.

* HERO HONDA MOTORS: Total March despatches stood at 515,852 vehicles, up 24% on year.

Total despatches in 2010-11 (Apr-Mar) stood at 5.40 mln vehicles, up 17% on year.

* HINDUSTAN GLASS: May finalise a overseas acquisition in the pharmaceutical space in the next two-three months. (Mint)

* HOUSING DEVELOPMENT FINANCE CORP: Sees home loan growth of around 20% on year in 2011-12 (Apr-Mar).

* IDEA CELLULAR: Department of Telecommunication has got an ex-parte stay from the Delhi High Court on IDEA CELLULAR-Spice merger. (PTI, Sat)

* IFCI: Has invoked pledge on 14.8 mln shares of MURLI INDUSTRIES and increased its stake to around 30% in the company.

* ISMT: Has said that operations at its unit in Ahmednagar, Maharashtra, have not been significantly hurt by workmen's strike.

* JAIPRAKASH POWER VENTURES: Company's shareholders will mull on Apr 30 the merger of two of its subsidiaries Jaypee Karcham Hydro Corp and Bina Power Supply Co.

* JINDAL SAW: Has started construction for its steel pipe plant in Kutch district without necessary environment clearances. (BS)

* JK PAPER: To mull raising up to 2.25 bln rupees via foreign currency convertible bonds on Friday.

* JSW Steel: Revives plans of listing in London, may put its overseas mining assets in single unit and list the entity in a year's time. (BS)

* MARG: Targets 50 bln rupees turnover in three years. (DNA, Sat)

* MUKAND: Has said that foreign partner NV Bekaert SA, Beligium, has raised stake in joint venture Mukand Bekaert Wire Industries Pvt Ltd.

* NMDC: To hike iron ore lump prices by 10% over the price in Jan-Mar. NMDC has kept iron ore fines prices unchanged.

Company's total iron ore production rose 6% on year to 25.19 mln tn in 2010-11 (Apr-Mar), while iron ore sales volume rose 9% on year to 26.33 mln tn.

NMDC sees 80% year-on-year rise in sales during 2010-11 (Apr-Mar) due to higher iron ore prices.

* OIL AND NATURAL GAS CORP: Arm ONGC Videsh has invoked force majeure clause for its Libyan block in order to get extra time for fulfilling its drilling commitments. (BS, Sat)

* ORIENTAL BANK OF COMMERCE: Has hiked deposit rates of two maturities by 75 bps and cut rates on four bulk deposits by 25-100 bps from Saturday.

* POWER FINANCE CORP: Has formed a subsidiary called Power Finance Corp Green Energy to provide financial support for green energy generation.

* PROCTER & GAMBLE HYGIENE & HEALTH CARE: Has raised prices of detergent brand Tide Plus after HINDUSTAN UNILEVER hiked prices of its detergent brands. (ToI, Sat)

Has cut prices of Pantene shampoo by 15%. (DNA Money)

* RELIANCE INFRASTRUCTURE: Says it has arranged to meet demand for power after TATA POWER ended its energy-supplying agreement with the company.

* SATYAM COMPUTER SERVICES: To pay 6.17 bln rupees to the income tax department under the foreign tax credit liability. (PTI, Fri)

* SHRIRAM TRANSPORT FINANCE CORP: Temasek Holdings is in talks with private equity firm TPG Capital to buy a part of its stake in company. (BS)

* SIEMENS: Has received an order worth 5.85 bln rupees from Chennai Metro Rail and another worth 1.62 bln rupees from Kolkata Metro Rail Corp.

* SJVN: Company's 1,500 MW Nathpa Jhakri plant has generated 7,140 mln units of power in 2010-11 (Apr-Mar) versus 7,019 mln units a year ago. (ET, Sat)

* SUPREME INDUSTRIES: Has acquired 11.29% stake in MALABAR TRADING CO via preferential allotment of shares.

* TATA CHEMICALS: Is integrating arms in UK, US, and Kenya under the Tata Chemicals corporate brand in a re-branding exercise. (var, Sat)

* TATA CONSULTANCY SERVICES: Wins multi-year, multi-million dollar contract from US' Air Liquide to provide application support, maintenance and development services. (BS, Sat)

* ULTRATECH CEMENT: Has posted 2.19% on-year rise in sales to 3.78 mln tn, and 2.4% on-year rise in cement output to 3.75 mln tn for March.

Company's Apr-Mar cement sales stood at 38.41 mln tn, up 3.2% on year, and output for the period stood at 38.43 mln tn, up 3.1% on year.

* VAKRANGEE SOFTWARES: Promoter company increases stake in VAKRANGEE SOFTWARES to 9.49% from 4.88%.

* V-GUARD INDUSTRIES: Has posted 2010-11 (Apr-Mar) sales turnover of over 7 bln rupees, up 50% on year.

* WIPRO: To buy oil-and-gas-information-technology service operations of US' Science Applications International Corp in an all-cash deal worth $150 mln.

Sun, 03rd Apr

Year 2010-2011 have been very good for some and bad for some. Indian equity have been very good at the start of the year but in the latter half gave many scars to many investors. Nifty at the start of the year was at 5200 levels and in month of Nov made a high above 6300 levels, but could not break its all time high and corrected.

Its seems that the Equity market too realized it that it’s a April Fools day.. Sensex too ended at 19420 levels. Is its just a coincidence. (420).

Nifty in the past few session have just been in the uptrend and corrected a bit on the last day of the trading session of the weak. On the last day of the trading session Nifty ended 5826 levels.

On the first day of the trading weak, nifty closed above its 200DMA and the rally continued. On Wednesday Nifty opened above its 100DMA. Nifty corrected after facing stiff resistance at 5855 levels. Sensex closed down 25 points at 19420 levels. After a10 days winning streak, nifty corrected 8 points after facing resistance at 5855 levels.

From the new Fibonacci Theory levels from 6338 to 5177 levels. Nifty after its 23.6% bounce back continued its rally till cross over almost 50%. Nifty if corrects will find support at 5742 levels i.e. 50% retracement levels. Nifty will face stiff resistance at 5907 levels.

Last weeks call

Buy Allahabad bank above 221 SL 219. Made a high of 239.

Buy Areva with a SL of 242. Made a high of 255.8

Buy Axisbank close above 1377 SL 1370. Made a high of 1443

Buy BOB close above 933. Made a high of 974

Buy Brfl close above 267. SL Triggered

Buy Educomp with a SL 417. Made a high of 437

Buy Fintech close above 774. Made a high of 911

Buy Sbi above 2728. SL 2717. Made a high of 2888.

Call given on Friday on personal blog

www.technicalsvishaldangaich@blogspot.com with charts.

To Buy Suzlon & Buy

PunjLloyd

SUZLON: Suzlon have been underperforming the Index since quite a some time. But in the last 2 trading sessions it seems that the stock may bottom out at current levels. Close above Rs.45 levels may prove to be positive for the stock. Suzlon will face resistance at 46.35 -46.50 levels. Close above the same can take the stock to 50.50 levels in short term with some stops at 48.00 to 49.00. Volumes have rising since last 2 days. Close above the Diagonal trendline can make the stock move upward. Suzlon can be bought a current levels with SL of 43.50.

PUNJLLYOD

PunjLloyd seems to be at the end of its downtrend. In the recent past the stock have made a low of 58.30. In start of 2009 also, the stock have bounced back from almost these levels and made a high almost 300. The stock have bounced back from its over sold zone. RSI is trending upwards. One can buy with a strict SL of 62. Buy when it closes above 67. Irrespective of company’s performance, the stock is doing good on the brousers. Short term Tgt 70 -72 -77.

This weeks call

Sell Asian paint below 2507 SL 2520.

Buy Bhel above 2127 tgt 2145-2154.

Buy Cairn above 356 SL 354.

Buy Siemens above 885 SL 876.

Sell Sbi below 2705 SL 2719.

Friday 01 April Buy Punj Lloyd

PunjLloyd seems to be at the end of its downtrend. In the recent past the stock have made a low of 58.30. In start of 2009 also, the stock have bounced back from almost these levels and made a high almost 300. The stock have bounced back from its over sold zone. RSI is trending upwards. One can buy with a strict SL of 62. Buy when it closes above 67. Irrespective of company’s performance, the stock is doing good on the brousers. Short term Tgt 70 -72 -77.

Buy Suzlon

Suzlon have been underperforming the Index since quite a some time. But in the last 2 trading sessions it seems that the stock may bottom out at current levels. Close above Rs.45 levels may prove to be positive for the stock. Suzlon will face resistance at 46.35 -46.50 levels. Close above the same can take the stock to 50.50 levels in short term with some stops at 48.00 to 49.00. Volumes have rising since last 2 days. Close above the Diagonal trendline can make the stock move upward. Suzlon can be bought a current levels with SL of 43.50.

Friday, Apr 1 - Morning brief for the stock market:

Stocks To Watch: GSK Pharma; Hero Honda; Kalpataru Power

Friday, Apr 1 - Morning brief for the stock market:.

BIG PICTURE

* India Apr-Feb fiscal gap 2.75 trln rupees, down 27% on year.

TOP EVENTS TODAY

* Trade data for Feb to be detailed by commerce ministry.

INDICATORS (previous session)

* NSE provisional net buy/(sale) in bln rupees, Mar 31: FII 33.25, DII (17.17)

* Institutional net buy/(sale) in bln rupees, Mar 30: FIIs 10.43, MF (2.49)

* FII NSE futures net buy/(sale) in bln rupee, Mar 31: index 13.38, shr (4.63)

* Sensex 19445.22, up 155.04 points; Nifty 5833.75, up 46.10 points.

* Crude: $106.72/bbl; Rupee: 44.59/$1; Gold: $1,438.9/ounce; 10-yr yld: 7.9820%.

OUTLOOK

* Local shares are seen opening flat amid subdued global cues. Trade is likely to be thin as market participants may prefer to keep positions light ahead of the weekend.

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GLOBAL STOCK MARKETS

* US: US share indices ended down Thursday after a Federal Reserve official said interest rates might need to rise to slow inflation.

* ASIA: Asian share indices were mixed after an official from the US Federal Reserve said interest rates might need to be raised, while on the other hand, data showed China's manufacturing growth accelerated in March.

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IPO WATCH

* Calyx Chemicals and Pharmaceuticals has sought SEBI nod for 6.83-mln-share issue

* L&T Finance Holdings has sought SEBI nod for a 17.5-bln-rupee issue.

* MCX files draft prospectus for its 6.43-mln-share issue.

* Prime Retail has sought SEBI nod for its 75-mln-share issue.

* Sheetal Refineries sought SEBI approval for a 6-bln-rupee issue.

SECTOR NEWS

* AUTOMOBILE: Japan's Honda Motor Co will temporarily halt production at its Indian facility from May due to parts' supply constraints from Japan. (PTI)

* AVIATION: Government has agreed to offer sovereign guarantee for refinance of a 220-bln-rupee loan raised by Air India to buy new aircraft.

Civil aviation ministry asks domestic airlines to submit a plan of action to implement new ground handling policy. (var)

Air India expects to turn profitable by 2013-14 (Apr-Mar) via financial restructuring. (Mint)

Low-cost carrier IndiGo will buy 300 new engines for its 150 new aircraft from Airbus. (var)

* BANKING: Reserve Bank of India has allowed banks to fix service charges on speed clearing of cheques with value over 100,000 rupees. (PTI)

* CHEMICALS: Chennai-based Sanmar Group exits joint venture Fisher Sanmar by selling around 51% stake in the company to US partner Emerson. (ET)

* CORPORATE: Indian companies raised $1.44 bln through external commercial borrowings and foreign currency convertible bonds in February, sharply down from $2.71 bln raised in January.

* ECONOMY: India Feb CPI industrial workers inflation 8.82% vs 9.30% Jan.

Govt says India Dec end external debt at $297 bln, up 14% since Mar 2010.

* ENERGY: State-owned oil marketing companies hike jet fuel prices by average 915.12 rupees/kL.

French energy company Schneider Electric is in advanced talks to buy majority stake in Delhi-based Luminous Power Technologies. (ET)

* EXCHANGES: NCDEX says integrating spot, futures markets key challenge.

National Stock Exchange has applied for extension of deadline to divest its 6.1% stake in National Commodity and Derivatives Exchange.

* EXPORTS: Government lifts restrictions on export of cotton yarn to tap international markets. (var)

* FINANCE: Task force on direct subsidies for liquefied petroleum gas, fertiliser, and kerosene--headed by Unique Identification Authority of India chairman Nandan Nilekani--has discussed proposed model of cash subsidy with Finance Minister Pranab Mukherjee. (ET)

* GOVERNMENT: Panel appointed to investigate conduct of Commonwealth Games 2010 has uncovered inflated contracts and wasteful expenditure of around 16 bln rupees. (Mint)

* RAILWAYS: To stop transporters from using wagons for short periods, the railways ministry will levy demurrage on chartering companies who do not complete loading within 9 hours and 15 minutes. (Mint)

* REGULATORY: SEBI says foreign institutional investors can invest in bonds of unlisted infrastructure companies.

* SUGAR: Government may re-impose 60% import duty on sugar from today as India's sugar production is likely to exceed demand. (PTI)

STOCKS

* BAJAJ AUTO: Expects to clock sales volume of 20% in both the two- and three-wheeler segments in 2011-12 (Apr-Mar).

Plans to launch small car, which is likely to take on Tata Motor's Nano, in 2012. (var)

* BAJAJ HINDUSTHAN: Is likely to start commissioning the first of its five standalone coal-based capacities of 90 MW each from Jul-Aug. (BL)

* BALRAMPUR CHINI MILLS: Bought back 447,246 shares on Mar 31.

* BAYER CROPSCIENCE: Has inked a pact to sell around 100 acres land in Thane, received 2.6 bln rupees earnest amount.

* BIRLA MACHINING: Board approves co's merger with BIRLA PRECISION TECHNOLOGIES.

* BROADCAST INITIATIVES: Has filed draft papers for a rights issue of 20.25 mln shares in the ratio of 8 for every 10 held in the company.

* CLUTCH AUTO: Promoter to get 1.25 mln shares on warrant conversion.

* COAL INDIA: Is in pact with the coal ministry under which it is targeting production of 452 mln tn and coal offtake of 454 mln tn in 2011-12. (ET)

* GLAXOSMITHKLINE PHARMACEUTICALS: Supreme Court orders company to pay 710 mln rupees on drug overpricing.

* GMR INFRASTRUCTURE: Macquarie SBI invests 8.93 bln rupees in company's arm GMR Airports Holding.

* GODREJ CONSUMER PRODUCTS: Has completed the merger of Godrej Household Products with self.

* HERO HONDA MOTORS: To announce new export markets, new brand name, and make public terms of separation from Honda Motor Co in less than a fortnight. (FE)

* HINDALCO INDUSTRIES: Has tied up loans worth 78.75 bln rupees from a consortium of lenders for its 359,000-tn Mahan aluminium smelter project.

* JET AIRWAYS INDIA: Plans to use lighter and slimmer economy class seats on domestic routes to shed weight and increase the number of seats. (Mint)

* JK PAPER: Redeems foreign currency convertible bonds worth $5 mln.

* KALPATARU POWER: Gets orders worth 9.5 bln rupees. (

* KINGFISHER AIRLINES: Has allotted 231.87 mln equity shares to lenders and promoters on conversion of preference shares, resulting in decline in promoter holding to 58.6% from 66.3%.

* KREBS BIOCHEMICALS: To issue shares to promoter on preferential basis.

* MIRC ELECTRONICS: The maker of consumer durables under the Onida brand plans to raise prices of air conditioners and television sets by 4-5%. (DNA Money)

* MINDTREE: To announce a new chairman today, likely to be one of the nine founders of the company. (BS)

* NIIT: Future Group and NIIT plan to partner with the National Skill Development Corp to train 7 mln people each over 10 years, where Future Group will enter into a JV with NSDC, and NIIT will invest 2 bln rupees. (ET)

* NTPC: Has commissioned unit 3 of Simhadri super thermal power project, which has capacity of 500 MW.

* STATE BANK OF INDIA: Has extended its special home loan scheme until further review.

TATA MOTORS: Plans to introduce a range of smaller trucks by May-Jun, which will ride on its Prima platform. (DNA Money)

* TATA POWER: To end electricity-supplying agreement with RELIANCE INFRASTRUCTURE from today and divert the power to its own consumer base in Mumbai. (Mint)

* SOBHA DEVELOPERS: May look at monetising more land to raise funds as the company prepares to launch projects in new markets such as the National Capital Region, and Chennai. (DNA Money)

* VADILAL INDUSTRIES: Has increased ice-cream production capacity to 325,000 ltr per day, and expects 40% growth in sales during FY12.

* VIPUL DYE CHEM: Acquires 56% stake in Shree Ambika Naturals.

* WINDSOR MACHINES: Approves reduction in share capital, stock split.

* WS INDUSTRIES: Sells 31,000 shares of arm WS Electric to arm WS Insulators for 387.5 mln rupees.

Who care’s whats happening with Libya……

No one cares about the International markets when our markets are doing good.

Everyone’s forgotten about Gadaffi, after the Japan sinked by the Tsunami. Researchers feel that there is a lot of buying opportunity in Japan. Japan will soon regain its strength. But what has triggered buying in Indian markets. Crude which was a major concern in the last 2 weeks, commodities is still at their peak. Inflation is almost there at its highest levels. Still no outcome for the pranksters which are held in the scams. Then why have the Indian markets turned positive suddenly.

It might be just a technical reason. Indian markets in the last few months have been in the downtrend. Since the start of this year indices gave negative returns of almost 15-18%. Nifty from the high of 6200 tanked down to make a low of almost 5200 levels. Sensex made a low of 17295 from the high of 20650 odd levels. At 5200 levels Nifty was trading in the oversold zone. Currently the Nifty is at 5650 and Sensex at 18800.

Indices have almost bounce 10% from their lows but the stocks are still way below their peaks. Midcap stocks are struggling hard to reach up to their 50% crashed mark. Select Largecap stocks have helped markets to regain strength.

Real Estate stocks have been performing very badly on the brousers. The growing inventory has proved bad for the stocks. House registration is down almost 35-40%. But the prices are still to collapsed. Coming next financial year prices should cool off.

Portugal might have no alternative to accepting a financial rescue from the EU and the International Monetary Fund after the parliament rejected severe austerity measures.

Technically Nifty bounced back from it’s over sold zone and made a recent high of 5667. Nifty is just few points below its 200DMA. Nifty on Thursday has given breakout. Nifty close above the trendline. On Friday Nifty and Sensex both opened with a gap. 5600 has been a very crucial levels to cross over. In the last two occasions also Nifty did try to close above the same but could not do so. Finally on Friday markets opened with a gap and close above the 5600 levels. Nifty will face resistance at 5690 levels. On Friday, Nifty closed above its 50% retracement levels also. Close above 5690 will take the Nifty to 5726-5747 levels. Nifty will support levels at 5624-5590.

This writer had advice to buy Silver on every levels right from the $16 levels. And now it’s at $36. I would still advice my readers to buy Silver with a long term prospective. None of the commodities will give better returns as this one…… Buy buy buy…..

This weeks call

Buy Allahabad bank above 221 SL 219.

Buy Areva with a SL of 242.

Buy Axisbank close above 1377 SL 1370.

Buy BOB close above 933.

Buy Brfl close above 267.

Buy Educomp with a SL 417.

Buy Fintech close above 874.

Buy Sbi above 2728. SL 2717.

Oils Not WELL with the Indian markets

Oil rose over $114 a barrel as fighting intensified in Libya, and OPEC said it saw no need to old an emergency meeting on ease supply fears. Heavy fighting in Libya had forced the shut down of one of its biggest refineries. The Zaiyah refinery is the biggest provider of gasoline in Libya, and has a total capacity of 120000 barrels per day. Finally at all this pain OPEC has decided to raise the oil output. Leading OPEC producer Saudi Arabia is already pumping more oil – upto 9 million barrels per day. The rise in the crude oil price will surely effect the Indian government who has done their Fiscal math. Oil marketing companies in India are already making a loss of around Rs.450Cr a day.

Spain has been downgrade once again. According to the estimate, Spain will need as much as Euro 50 bn ($ 69 bn) to meet new capital requirements. Spain has taken unprecedented measures to avoid following Greece & Ireland into a bailout, implementing the deepest budget cuts in three decades, As European leaders negotiate a reinforced rescue effort, Spain is tightening capital requirements for banks in a bid to show investors that its lenders can weather a 4^th year of economic slump. China reported an unexpected $7.3bn trade deficit, the biggest in seven year.

IIP data for the month of Jan is at 3.7% vs 1.6% in Dec. Manufacturing Rises 3.3%. Mining Output Rises 1.6% In January. Electricity Production Rises 10.5%. Consumer Goods Production Rises 11.3%. India’s exports jumped 50% in Feb. Indian crossed the $200bn target for the fiscal year. Inflation dropped down to its 3 month low at 9.52% as compared to 10.39% in the week before.

Crude at the start of the week continued its upward move but cooled down at the end of the week. Silver once again made its all time high of almost Rs.55000. Investors are still advice to buy Silver at all the levels.

Japan has been hit by one of the worst Tsunami’s in the recent times. Stock markets tanked in the late hours of the last session. Nifty and Sensex closed down nearly 2%. Oil & Gas sector indices was the only sector which managed to close in green by 1%. Rest of the Indices closed down in Red. Capital Goods, Metal & IT Index tanked nearly 3% each. Auto & Bankex closed down 2%.

Few midcaps had their jolly time on the brousers. Tata coffee jumped almost 50% in a single week. Oswal chem. Rallied 36%, while Apollo tyre surged 12%. Most of the frontline stocks tanked in the week leading to a fall in the Indian markets. Bpcl sinked 6.3%, Sbi 5%, Tcs -6%, Lnt & Maruti nearly 4%. Tata Stell 6, Bhel 5.5%. In the mid cap Educomp tanked the most by 11%, GVK 6.5%, Renuka by 3.8%.

The rally in the start of the week showed great strength and it felt the worst may be soon over. But the markets tanked on the last 2 session, Nifty closed down at 5445 levels. Nifty is trying really hard to close above its 50% retracement levels. It did close above the same for a day but the next day again the markets tanked that failed the consecutive close of the Nifty above the same. On the last day of the trading session Nifty closed just near to its 20DMA.

Nifty after making a low of 5177 on 11^th Feb bounced back sharply to make a high of 5608 in the last week. But again close down at 5445 levels. Close above its 50% retracement levels can prove to be good, but till that time the markets will remain bearish.

This Weeks Call

Short Andhra Bank below 134 SL 137.

Buy Asian Paint close above 2530 SL 2514.

Sell Bharti Air below 320 SL 326.

Sell Bhel with SL of 1973.

Buy Hdil close above 168 SL 165.

Buy Ongc above 285 SL 281.

Sell Tata Steel with SL of 595.

All Credit goes to Gadaffi…

The fear can be seen in the market prior to the Budget session that will be conducted on Monday. FII have been selling in the Indian markets since last few trading sessions. Not only has this had the Libya issues taken most of the emerging markets for a toss. Fear of more civil war has impacted the global markets. Libya being the 12th largest Oil export is been in trouble since last few weeks. All thanks to the ruler Muammar Gadaffi. Crude oil has shoot up $100 a barrel. Brent crude is nearly $120 a barrel.

Consumer confidence rose to a 3yr high in Feb. but the home prices for the 6th month in row in Dec suggests that the economy still faces significant hurdles. The expectations rose to its highest level to 95.1, its highest level since Dec 2006, From 87.30.

Nifty and Sensex tanked nearly 3% in a week. Midcap and Smallcap were badly hit during the fall. Both the index fell more than 4%. The entire sector index closed in red. Capital good Index fell more than 6% while bankex, Reality and Healthcare Index fell down nearly 4.5%. Automobile Index lost 5.3%. After the Rail budget most of the rail related stocks fell heavily. Kalindee rail & Titagarh Wagon lost 20% while Texmaco lost 11%. Sesagoa, Bpcl & Dlf lost 8% each. M&M, Lnt, Tata Motor, Sbi, Rcom lost in the range of 6 – 7.5% each. Bhel, Ntpc, Jaiprakash & Hdfc Bank lost nearly 5.5% each.

In the stocks Aurobindo was one of the major looser which lost 25%. Mphasis after its results update fell 32%. Orchidchem by 11%.

ADAG stocks were in the limelight. All negative rumors flew in the market about Anil Ambani.

Oil jumped to the highest in more than two years in New York as intensifying violence in Libya stoked concern that supplies from the holder of Africa’s largest crude reserves may be disrupted. Brent crude may trade in the range of $105-110 in the unrest continues. As Libya continues to simmer, the whole world is waiting to see if the crisis will spread to other oil producing nations in West Asia. Analysts estimate that as many as a million barrel if Libyan oil a day have been removed from world markets in recent days, and investors fear that more oil production could be disrupted if the unrest spreads to other crucial producing nations, like Algeria.

Finally the Indian government has taken front seat to punish the culprits in the 2G & CWG scams.

Highlights of Economic Survey 2010 – 11 • Economy expected to grow at 8.6% in 2010-11 and 9 per cent in next fiscal • Growth broad based with rebound in Agriculture, continued momentum in manufacturing and private services • Fundamentals strong with Savings & Investments up, exports rising rapidly and inflation falling • Agriculture likely to grow at 5.4% in 2010-11; • Industrial output grows by 8.6% ; manufacturing sector registers 9.1% • Exports in April-December 2010 up by 29.5 % • Imports in April – December 2010 up by 19% • Trade gap narrowed to US $ 82.01 bn in April-December 2010 • 59% rise in Net Bank Credit • Social program spending stepped up by 5 percentage points of GDP over past 5 years • 9.7% growth of GDP at market prices.

Monday’s the day when most of the Indian people will have their head in the Idiot box. Not even Indian’s; FII’s too will be looking for the ‘Budget day’.

Some of the expectation from the Budget 2011.
· Possibility of the hike in Excise duties- Negative for Automobile.
· Import duty may be cut- Positive for Coal.
· Expect increase in Central Excise duty – Negative for Engineering
· Expect increase in outlay for defense – Negative for Engineering
· Reduction in the duties on crude oil – Positive for Oil sector
· Expect higher Plan allocation to power sector & housing and provision of basic amenities – Positive for Metal.
· Expect continuation of Technology upgradation Fund Scheme – Positive for IT
· Expect reduction in import duty – Positive for Textile.

The last article which I had written was on 5th Feb 2011. Nifty was trading at 5395. I had mentioned that the Nifty is controlled by the Bears. (Nifty will find support at 5348 but close below the same will take the Nifty to 5232 levels directly) Nifty Friday made a low of 5232 and closed at 5303. In the chart we can see that the Nifty closed below the 61% retracement level on Friday. Close below the same will a kind of a blood bath in the Indian markets. In the fall of the 2008 nifty bounced back but could not cross the resistance at 5232-5250 levels and we all know what the impact was. Nifty might come down to 4800 levels also. This target will be only in the extreme case which can be achieved. With all the bad rumors I don’t think that the Nifty will turn up so soon.

This weeks call
Sell Bharat Forge close below 302 SL 307 tgt 298-294- 288.
Sell Bhel below 1961 SL 1973.
Sell Cromptrom below 240 SL 243.
Sell M&M below 587. SL 595.
Buy Mundra Port close above 148 SL 145.
Sell Ongc below 260 SL 264.
Sell Rcom below 85 SL 87.
Sell Rinfra below 637.