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hi, if you find this massage is interesting, share with your friends http://emailbookmarking.blogspot.com/2008/04/largest-fish-tank-germany.html The Indian markets closed on a firm note on the back of heavy buying towards the end of the session. Though the market opened on a disappointing note due to the mixed cues from the global markets but gathered the momentum after the mid session to keep on marching forward to close with good gains. From the sectoral front, the metal stocks remained in the limelight as most buying was seen from these baskets. The market breadth was positive as 1425 stocks closed in green while 1239 stocks closed in red. The BSE Sensex closed higher by 225.49 points at 16,978.35 and NSE Nifty closed up by 53.95 points at 5,011.75. It touched an intraday high of 17,014.94 and low of 16,626.35. The BSE Mid Cap and Small Cap closed higher by 33 points and 36.78 points at 6,989.81 and 8,434.49 respectively. The Metal index surged 687.30 points to close at 16,435.18. Major gainers are Hind Zinc (17.14%), Hindalco inds (6.86%), Jindal Steel (6.07%), Sterlite inds (4.70%), Bhushan Steel (4.60%), Sesa Goa (4.39%) and Tata Steel (4.12%). The Oil & Gas index closed marginally higher by 9.55 points at 10,916.92 as RPL (3.17%), Cairn India (2.52%), RNRL (2.32%) and Essar Oil (1.34%) closed in green while ONGC (5.85%), IOCL (5.08%), Gail India (3.34%) and BPCL (2.73%) closed in red. The Capital Goods index grew by 85.09 points to close at 13,146.06. Scrips hat gained are BEML (2.89%), Siemens (2.86%), Praj inds (2.66%), Bharat Elec (1.92%), Punj Lloyd (1.45%), Suzlon Energy (1.43%) and AIA Eng (1.10%). The IT index closed up by 162.22 points at 4,427.36. Gainers are TCS (7.09%), Niit Techno (5.53%), I-Flex (4.57%), Infosys (4.53%), HCL Tech (4.39%), Tech Mahindra (3.26%), Rolta Ind (3.02%), Wipro (1.90%) and Aptech (1.52%). The Consumer Durables index advanced by 106.11 points to close at 4,507.56 as Titan Ind (8.40%), Lloyd Ele (4.23%), Gitanjali GE (3.97%) and Rajesh Exports (1.55%). From the Health Care baskets, Dr. Reddy’s lab (8.34%), Orchid Chem (7.25%), Divi’s lab (3.65%), Bilcare (3.15%), Lupin (3.06%), Apollo Hos (2.29%), Matrix Labs (2.22%) and Ranbaxy Labs (2.09%) closed in green.

Market rallies past 17,000 after initial crash

The Sensex commenced 62 points lower at 16,691 and plummeted below 16,650 mark on relentless selling to touch the day's low of 16,626. However, resumption of buying in late morning trades saw the index drift into positive territory and gain strength thereafter. The market witnessed a sharp pull back after short covering by investors triggered a major rally in heavyweight, metal, IT and CD stocks. Recovery in other major Asian indices like Hang Seng and Straits Times followed by Nikkei, Kospi and Jakarta coming off their early slump also helped the market turnaround from its early crash. The Sensex breached 17,000 levels in noon trades to touch an intra-day high of 17,015 before selective selling saw it came close to slip below the 17,000 mark. However, renewed buying towards the fang end ensured the Sensex move past 16,950 mark and end the session with a surge of 225 points at 16,978. Nifty rose 54 points to close at 5,012. Among sectoral indices, BSE Metal index led the surge with gains of 4.36% at 16,435 followed by BSE IT index (up 3.80% at 4,427) and BSE CD index (up 3.19% at 3,487). However, the BSE PSU index, the BSE Oil & Gas and BSE FMCG were the losers. The market breadth was postive. Of the 2,749 stocks traded on the BSE 1,395 stocks advanced, 1,266 stocks declined and 88 stocks ended unchanged. Out of 30 Sensex stocks, 22 managed to end in the green, while 8 stocks ended with losses. Tata Consultancy Services was the leading gainer and soared 7.09% at Rs969.95, Hindlaco advanced 6.86% at Rs192.30, Infosys moved up by 4.53% at Rs1,826.30, Tata Steel jumped 4.12% at Rs886.35, Maruti shot up by 3.13% at Rs797.20, Bharti Airtel added 3.31% at Rs848.40 and Reliance Energy was marginally up at Rs1,424.55. Other major gainers like HDFC rose 2.74% at Rs2,731.10, JP Associates gained 2.57% at Rs259.75, Reliance Communications scaled up 2.50% at Rs559.30, Grasim Industries moved up 2.14% at Rs2,266 and Ranbaxy Laboratories was up 2.09% at Rs495.25. Among the laggards ONGC dropped 5.85% at Rs938.80, ACC shed 2.30% at Rs667.30, Ambuja Cement declined 1.93% at Rs109.40 and Mahindra & Mahindra lost 1.58% at Rs656.15. Metal stocks were the star performers, ahead of the credit policy. Hindustran Zinc vaulted 17.14% at Rs733.85, Hindalco flared up 6.86% at Rs192.30, Jindal Steel jumped 6.07% at Rs2,310.30, Sterlite Industries scaled up 4.70% at Rs815, Bhushan Steel spurted 4.60% at Rs789.15, Sesa Goa soared 4.39% at Rs4,138 and Tata Steel was up 4.12% at Rs886.35. Among the IT stocks NIIT, I-Flex, HCL Techno, Tech Mahindra, Rolta and Mphasis were up 2-5% each. Over 7.90 crore Aishwarya Telecom shares changed hands on the BSE followed by IFCI (1.72 crore shares), Idea Cellular (1.52 crore shares), Ispat Industries (1.48 crore shares) and Reliance Petroleum (1.31 crore shares).

Nifty shuts shop above 5,000 mark

Frenzied buying in software and metal stocks in late trade propelled market higher after a nervous start. Asian markets, which opened before Indian market, saw steady recovery throughout the day after a shaky start. European markets, which opened after Indian market, were mixed. IT pivotals gained as rupee weakened to 13-month low against the dollar. Metal stocks gained on fresh buying. The S&P CNX Nifty settled above physcological level of 5,000. However the BSE Sensex failed to close above 17,000 level. The 30-share BSE Sensex surged 225.49 points or 1.36% at 16,978.35. Sensex advanced 262.08 points at day’s high of 17,014.94 in mid-afternoon trade. The barometer index had opened 61.56 points lower at 16,691.30 and slipped further to touch a low of 16,626.35 in early trade. At the day’s low, Sensex had lost 126.51 points. The broader based S&P CNX Nifty gained 53.95 points or 1.09% at 5,011.75. Nifty May 2008 futures were at 5011.80, near the spot price. As per provisional data, foreign funds purchased shares worth a net Rs 85.12 crore today, 14 May 2008. Domestic funds bought shares worth a net Rs 310.41 crore today. The market breadth was positive on BSE, with 1393 shares advancing as compared to 1269 that declined. 85 remained unchanged. The BSE Mid-Cap index rose 0.41% to 6,989.81 while the BSE Small-Cap index gained 0.44% to 8,434.49. Both these indices underperformed the Sensex. The total turnover on BSE amounted to Rs 6164 crore as compared to Rs 6,623.42 crore yesterday, 13 May 2008. Turnover in NSE’s futures & options segment amounted to Rs 32919.78 crore as compared to Rs 38107.72 crore yesterday, 13 May 2008 Among the 30-member Sensex pack, 21 advanced while the rest slipped. Hindalco Industries, the country’s largest private sector aluminium company in terms of sales, galloped 7.59% to Rs 193.60 on 17.22 lakh shares. It was the top gainer from Sensex pack. Other metal counters, Tata Steel (up 4.52% to Rs 889.80), Hindustan Zinc (up 17.93% to Rs 738.80), Sterlite Industries (up 4.77% to Rs 857.25), JSW Steel (up 4.23% to Rs 1000.10), advanced. IT stocks rallied as rupee weakened to 13-month low above 42 against the dollar. TCS (up 7.07% to Rs 969.70), Infosys Technologies (up 4.73% to Rs 1829.90), and Wipro (up 1.61% to Rs 502.15), surged. A depreciating rupee augurs well for IT companies as they derive over 50% of their revenues from exports to US. However India’s fourth largest software services exporter Satyam Computer Services tumbled from day’s high of Rs 515.75 hit in late trade to settle 1.15% lower at Rs 490.25. India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) rebounded from early low of Rs 2484 to settle 1.02% higher at Rs 2527. 5.44 lakh shares were traded on the counter on BSE. Bharti Airtel, the country’s top cellular services provider in terms of market capitalisation advanced 3.50% to Rs 850. Bharti Airtel on Tuesday, 13 May 2008, said its talks for South Africa's MTN were still exploratory and it has not made any bid. The Asian Wall Street Journal said on Monday, 12 May 2008, that Bharti was considering raising its offer to around 175 South African rand ($22.84) a share for control of MTN. It said an official bid could come this week. MTN's market value has risen to $38.8 billion, after an 8.8% increase in its share prices since 2 May 2008, the trading day before the company said it was in talks with Bharti. Reliance Infrastructure (up 3.96% to Rs 1436), Jaiprakash Associates (up 2.63% to Rs 259.90), and Maruti Suzuki India (up 3.46% to Rs 796.80), edged higher from Sensex pack. Oil & Natural Gas Corporation, the country’s largest state run oil exploration company in terms of sales, slumped 6.13% to Rs 936 on 10.13 lakh shares, on fears the company may forced to offer higher discounts to state-run refiners as crude hit a record high. It was the top loser from Sensex pack Shares of cement producers declined following reports that they are reducing prices despite increase in input costs, mainly due to higher supply on account of new installed capacities and the government’s ban on export. Ambuja Cement (down 2.20% to Rs 109.10) and ACC (down 2.32% to Rs 667.15) declined. Mahindra & Mahindra (down 1.60% to Rs 656), and HDFC Bank (down 1.23% to Rs 1464), edged lower from the Sensex pack. Recently listed Aishwarya Telecom jumped 14.82% to Rs 123.95 on huge volumes of 7.85 crore shares. Other volume toppers on BSE were IFCI (1.72 crore shares), Idea Cellular (1.53 crore shares), Ispat Industries (1.49 crore shares), and Reliance Petroleum (1.32 crore shares). Aishwarya Telecom was the top traded counter on BSE with turnover of Rs 929.97 crore followed by Reliance Petroleum (Rs 238.27 crore), Reliance Capital (Rs 168.58 crore), Tata Steel (Rs 167.74 crore) and Idea Cellular (Rs 161.68 crore), in that order. Shares of oil marketing firms were mixed following reports that the Union government will issue bonds worth Rs 15000 crore to state oil refiners for the quarter ended on March 2008. Bharat Petroleum Corporation (down 2.73% to Rs 339), and Indian Oil Corporation (down 4.85% to Rs 398.10), declined. However Hindustan Petroleum Corporation rose 0.47% to Rs 236.10. The oil bonds will be issued to oil marketing firms so as to compensate half the revenue loss incurred for selling fuel at state-set low prices. During 2006/07, the government had compensated 42.7% of the revenue losses of state oil refiners. Omnitech InfoSolutions jumped 18.35% to Rs 193.50 after its board approved raising funds upto $35 million by way of qualified institutional placement, American or global depository receipts or foreign currency convertible bonds. The company made this announcement after market hours on 13 May 2008. Shanthi Gears surged 5.87% to Rs 70.35 after posting 5.37% rise in net profit to Rs 11.89 crore on 7.22% increase in total income to Rs 67.80 crore in Q4 March 2008 over Q4 March 2007. The company announced the results during trading hours today, 14 May 2008. BEML gained 2.37% to Rs 1146.1 after the company said it has entered into a memorandum of understanding with Steel Authority of India for supply of earth moving equipments and spares. The company made this announcement after trading hours on Tuesday, 13 May 2008. KEC International slipped 2.27% to Rs 582.10 even as the company said it has secured a contract worth Rs 111.41 crore from Power Grid Corporation of India for supply and construction of 400 kilovolt transmission lines. The company made this announcement during trading hours on Tuesday, 13 May 2008, Lloyd Electric & Engineering rose 5.64% to Rs 119.85 after it announced acquisition of Luvata Czech s.r.o. in Prague, Czech republic through its special purpose vehicle Lioyd Coils Czech s.r.o. The company made this announcement before market hours today, 14 May 2008. Wockhardt declined 1.38% to Rs 303.10 on reports the Securities Appellate Tribunal has upheld the Securities & Exchange Board of India order against the chief financial officer of Wockhardt and relatives guilty of insider trading European markets, which opened after Indian market, were mixed. Key benchmark indices in United Kingdom (up 0.03% to 6,213.70), and France (up 0.45% to 5,021.50) advanced. However Germany’s DAX index was down 0.18% to 7,047.57 Asian markets were off early lows, still trading mixed today, 14 May 2008. Shanghai Composite (up 2.73% at 3,657.23), Seoul Composite (up 0.05% at 1,843.75), Nikkei 225 Average (up 1.18% at 14,118.55), Taiwan Weighted (up 0.32% at 9,018.42), advanced. However, Hang Seng (down 0.08% at 25,533.88) and Straits Times (down 0.15% at 3,198.51) edged lower. US markets settled mixed yesterday, 13 May 2008 as investors juggled a mixed bag of news. A tepid outlook from Yahoo, HP's bid for EDS and a surprising resilience in retail sales led to mixed reactions. The Dow Jones fell 44.13 points, or 0.34%, to 12,832.18. The Nasdaq Composite index rose 6.63 points, or 0.27%, to 2,495.12. On 13 May 2008, Indian equities reversed early gains in choppy trade to settle lower closely mirroring European markets. The 30-share BSE Sensex slipped 108.04 points or 0.64% at 16,752.86 and the broader based S&P CNX Nifty shed 54.85 points or 1.09% at 4,957.80, on that day. Meanwhile, the board of the Securities and Exchange Board of India (SEBI) in its meeting held yesterday, 13 May 2008, gave an in principle approval to the concept of marking lien on bank account as an alternative mode of payment in public and rights issues. The concept will enable the application money to remain in the bank account of the applicant till such time the allotment is finalized and thus eliminate the refund process.

Today's Pick - Indusind Bank

We recommend a sell in IndusInd Bank from a short-term perspective. It is evident from the charts that the stock was on a medium-term uptrend between late March 2008 and early May 2008, from its a low of Rs 68 to an high of Rs 105. After finding resistance around Rs 105, the stock reversed direction and began to decline. On May 12, the stock breached the medium-term up trendline. The stock witnessed moving average compression at around Rs 90 levels and has now penetrated these average lines. The daily and the weekly momentum indicators are declining in the neutral region. The stock appears to have resumed the long-term downtrend and we are also bearish on it in the short-term. We expect the stock’s down move to continue until it hits our price target of Rs 74 in the upcoming trading sessions. Investors with short-term perspective can sell the stock while keeping the stop-loss at Rs 90. Via BL

Good news for IPO investors !

Investors no longer have to wait for weeks for refund of their IPO application money. The application money earmarked for an IPO will now remain in the applicant’s bank account till the allotment is finalised, thus eliminating the refund process, SEBI said on Tuesday, addressing a long-standing grouse among investors, particularly in the retail segment. “The modalities in this regard would be worked out separately,” said a news release from SEBI, issued after its Board met on Tuesday. “The Board approved, in principle, the concept of making lien on bank account as an alternative mode of payment in public/rights issues.” This means that the money marked for the IPO will not be used for any other payment obligation during that period. At the same time, the applicant will enjoy the interest payable on the amount. This would also reduce the burden on registrars and merchant bankers. But bankers to the issue can no longer enjoy the floating interest, said officials associated with the IPO process. Most important of all, investors would not have to wait for their refund money. It also ensures that a liquidity crisis such as that of January 2008 does not occur again. At that time, many investors were unable to buy scrips which were at attractive lows, as their money was locked up in the Reliance Power and the Future Capital IPOs. Nor could they meet their margin money requirements. PMs – NO POOLING The SEBI Board also decided to disallow the pooling of investors’ money by portfolio managers. “Portfolio managers should not float a scheme or pool the resources of the client in a way which is akin to mutual fund activity,” said SEBI. They have been allowed six months’ time to convert their operations managed on pooled basis to individual basis. The Board also decided to enhance the minimum net worth requirement for registration of portfolio managers from the existing Rs 50 lakh to Rs 2 crore in a phased manner. via BL

Precious metals register significant drop

Gold and silver prices close lower as the dollar climbs up Precious metals ended significantly lower on Tuesday, 13 May, 2008. Dollar strengthening up against its rivals was the main reason behind this. Gold has traditionally been used as a safe-haven asset against rising inflation. Investor sentiments are boosted by the fact that gold and silver are alternate sources of good investment in the face of declining dollar and rising energy prices. Dollar weakness typically benefits dollar-denominated commodities, such as gold and crude oil, because it makes them cheaper for holders of other currencies. On the other hand strong dollar reduces the appeal of the metal as alternate source of investment. Comex Gold for June delivery fell $15.3 (1.7%) to close at $869.6 ounce on the New York Mercantile Exchange. Last week, gold prices ended higher by $3.2 ($27.8). On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. This year, gold prices have gained 4.3% for the till date against a 8% drop for the dollar against the euro. For April, prices closed lower by 6.3%. For first quarter prices gained 10.7%. In January, prices gained 11%, the highest monthly gain since April 2006. For February, it gained 6%. But in March, prices succumbed and fell by 5.5%. Comex Silver futures for July delivery fell 40 cents (2%) to $16.83 an ounce. Silver has gained 12.8% in 2008 till date. For April, it closed lower by 5.5%. Silver gained 16% in Q1. In January this year itself, prices climbed 14%. In February, it gained another 15%. For March, it ended lower by 13%. The metal had climbed 16% in FY 2007. The metal also has gained for seven straight years. On the currency markets on Tuesday, the U.S. dollar climbed against other major currencies after the Commerce Department reported better-than-expected April retail sales. The euro extended losses against the dollar and traded at $1.5482, down from late Monday. Commerce Department reported today that U.S. retail sales fell for the third time in the past five months in April, led by a big decline in auto sale, but were slightly stronger than the 0.3% drop expected. In the crude market, crude futures closed higher as issues over Iranian oil production, uncertainty ahead of weekly data on U.S. inventories and a rally in heating oil prices combined to briefly lift oil to uncharted territory near $127 a barrel. Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies. On the other hand, a lower dollar pushes up precious metal prices as their demand lessens as it becomes cheaper for traders holding other currencies. At the MCX, gold prices for June delivery closed lower by Rs 133 (1.1%) at Rs 11,828 per 10 grams. Prices rose to a high of Rs 11,951 per 10 grams and fell to a low of Rs 11,731 per 10 grams during the day’s trading. At the MCX, silver prices for July delivery closed Rs 419 (1.8%) lower at Rs 23,048/Kg. Prices opened at Rs 23,420/kg and fell to a low of Rs 22,750/Kg during the day’s trading.

Company Background - Mindtree Ltd

The company was incorporated as MindTree Consulting Private Limited on August 5, 1999 by a group of ten individual promoters of which three of them invested through an entity incorporated in Mauritius. The company is an international IT consulting company that delivers affordable business and technology solutions through global software development. Co-headquartered in Somerset, New Jersey and Bangalore, India, the company's seasoned management team and employees skilled in technology, business analysis and project management approach technology initiatives in a business context. The company also delivers product-development services and designs reusable building blocks for high-tech companies. The company is also present in California, Illinois, New Jersey, Virginia and Colorado in the U.S., United Kingdom, Germany, Singapore, Japan, Middle East, Australia, Switzerland and Sweden. The company has structured into two business units that focus on software development - IT Services and R&D Services. The company have clients that range from Fortune 10 companies to enterprise software organizations. In September 2004, the company has acquired the software divisions of ASAP Solutions Private Limited ('ASAP') and Arachno Solutions Private Limited ('ARSPL'). ARSPL is a wholly owned subsidiary of ASAP, and both companies were engaged in, inter alia, providing information technology services, specifically SAP implementation and maintenance, data management and customized application development in Asia and USA. The company has acquired the software business of ASAP Solutions Inc., the wholly owned subsidiary of ASAP through a concurrently operating agreement. In June 2005, The company has acquired 100% share capital of Linc Software Services Private Limited engaged in the business of application development and maintenance, ERP product support and webdevelopment. By virtue of the acquisition, Linc Software Services Private Limited, subsequently renamed as MindTree Software Services Private Limited, became subsidiary of MCL. Further, by a scheme of arrangement as approved by the High Court of Karnataka dated July 28, 2006, MindTree Software Services Private Limited was merged with MCL w.e.f April 1, 2005. February 2007, the company has entered into capital market. The company has issued 55,93,300 Equity shares to the public. Issue price is Rs.425/- per share.

Company Background - TCS

Established in 1968, Tata Consultancy Services has grown to its current position as the largest IT services firm in Asia based on its record of outstanding service, collaborative partnerships, innovation, and corporate responsibility. TCS is headquartered in Mumbai, and operates in more than 50 countries and has more than 170 offices across the world. In the year 1979 it established its first office in New York City. It is the world's first organisation to achieve an enterprise-wide Maturity Level 5 on quality improvement models, CMMI and P-CMM, using the most rigorous assessment methodology, SCAMPISM. TCS Division of Tata Sons Ltd was transferred to TCS as on April 2004 for a consideration of Rs.2300 crores and the company went to public in the same year 2004. The company's major areas of business are comes under five services, such as Consulting, Information Technology Services, Business Process Outsourcing, Infrastructure Outsourcing, Engineering and Industrial Services which covers the industries namely Banking and Financial Services, Energy and Utilities, Government, Healthcare and Life Sciences, Hi Technology, Insurance, Manufacturing, Retail, Telecom, Travel and Hospitality. During the year 2004-05 the company has acquired WTI Advanced Technology LTD and TCS Business Transformation Solutions Ltd (Previously, Phoenix Global Solutions (India) LTD), subsequently these two companies have turned as the subsidiaries of the company. In between 2005-06, the year covers the acquisitions of three companies Comicrom S.A., Chile, Financial Network Services (Holdings) Pty Ltd, Australia (FNS) and Swedish Indian IT Resources AB (SITAR). Tata Infotech Limited and three wholly owned subsidiaries of the company, viz Airline Financial Support Services (India) Ltd (AFSL), Aviation Software Development Consultancy India Ltd (ASDC) and TCS Business Transformation Solutions Ltd (TCS BTS) have amalgamated with the company on April 2005. Apart from this the company made strategic alliances during the year with Diligenta Limited for Life Insurance business and entered into a Joint Venture Agreement with the State Bank of India (SBI). The new company was formulated and named C-Edge Technologies Limited (C-Edge) to provide advanced technology solutions and world-class domain consulting for the banking and financial services sector. In the year of 2006, TCS formed a company as MP Online Limited, partnership with the Government of Madhya Pradesh, offering a wide range of computer enabled services in the State of Madhya Pradesh. The company, through its wholly owned subsidiaries Tata Consultancy Services Asia Pacific Pte Ltd and Tata Consultancy Services Malaysia Sdn Bhd, subscribed to 100% share capital of PT Tata Consultancy Services, Indonesia, a Company formed to provide consulting and IT related services in Indonesia. Through its wholly owned subsidiary Tata Consultancy Services Netherlands B.V., acquired 75% equity interest in Switzerland based TKS - Teknosoft S.A., for a consideration of Rs. 368.06 crores The company, through its wholly owned subsidiary TCS FNS Pty Limited, acquired 100% equity interest in an Australia based company TCS Management Pty Ltd., for a total consideration of Rs. 15.75 crores. TCS's share capital of Tata Consultancy Services (China) Co., Ltd leads the company to frame a partnership with Chinese companies to provide IT outsourcing services and solutions. The Company, through its wholly owned subsidiaries Tata Consultancy Services BPO Chile S.A. and TCS Inversiones Chile Limitada, subscribed to 100 % share capital of Tata solution Center S.A., a Company formed to provide BPO services in Ecuador. Another one of its wholly owned subsidiary TCS FNS Pty Limited, subscribed to 100% share capital of Financial Network Services Beijing Co. Ltd., a company formed to provide consulting and IT related services in China and the company has increased its investment in TCS Iberoamerica to Rs. 165.23 crore as on March 31, 2007 The company received International Credit Rating from Moody's Investors Service and has assigned an investment-grade issuer rating of A3 as well an indicative foreign currency debt rating of Baa1. TCS gathered various awards and recognitions, significant amongst which are Special Award by the UK Prime Minister, Tony Blair 'Outstanding Contribution to UK Knowledge Industry' in 2005, Company of the Year - 2006 from the Economic Times, Dataquest Best IT Employer for 2006, CII-EXIM Bank Award for Business Excellence 2006, Golden Peacock Global Award for Corporate Social Responsibility, Ranked among the Top 10 US application management services vendors India's largest e-governance initiative of the Ministry of Company Affairs, which is implemented by TCS, `Most Distinguished Achievement Award in Information Management (APAC) - 2006' from IBM and Verizon's Supplier Excellence Award for the third consecutive year. Eaton Premier Supplier Award 2007 for the Indirect Supplier for Information Technology Services category honored by Eaton Corporation. As on 2008 TCS has signed a new multi-year contract with Chrysler LLC to provide a comprehensive portfolio of IT services, in March 2008 opened its North America Delivery Center called TCS Seven Hills Park. Located in Milford, Ohio, a suburb of Cincinnati, the facility sits on 220 wooded acres and is the largest TCS facility in North America. As on May 2008 the company ranked sixth in the largest 2008 Global Outsourcing 100, compiled by the International Association of Outsourcing Professionals (IAOP). TCS is going with certainty, lot of innovations and strategies to attain the vision of Global Top 10 by the year 2010.

Hero Honda

Hero Honda

Tata Steel May 2008 futures at premium

Turnover in F&O segment decreases Nifty May 2008 futures were at 4954, at a discount of 3.80 points as compared to spot closing of 4957.80. The NSE's futures & options (F&O) segment turnover was Rs 38107.72 crore, which was lower than Rs 41000.80 crore on Monday, 12 May 2008. Tata Steel May 2008 futures were at premium at 854.35 compared to the spot closing of 851.40. Housing Development & Infrastructure (HDIL) May 2008 futures were at discount at 726 compared to the spot closing of 729.75. IFCI May 2008 futures were near spot price at 59.55 compared to the spot closing of 59.90. In the cash market, the S&P CNX Nifty lost 54.85 points or 1.09% at 4957.80.

Ranbaxy

Ranbaxy

Asian Paints

Asian Paints

Nicholas Piramal

Nicholas Piramal

Maruti Suzuki

Maruti Suzuki

Edelweiss

Edelweiss

Indian Overseas Bank

Indian Overseas Bank

India Infrastructure

India Infrastructure

ICICI Bank

ICICI Bank

Hindustan Unilever

Hindustan Unilever

HDFC

HDFC

BHEL

BHEL

Canara Bank

Canara Bank

Bharat Electronics

Bharat Electronics

India Autos

India Autos

ABB

ABB

Tuesday, May 13, 2008

India Economy, Cement Sector, India Metals, India Construction, India Pipes

India Economy, Cement Sector, India Metals, India Construction, India Pipes

Asian Paints, Reliance Communications,ITC, Jindal Steel and Power, India Telecom

Asian Paints, Reliance Communications,ITC, Jindal Steel and Power, India Telecom

NSE Bulk Deal Watch - May 13 2008

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks 13-MAY-2008,GWALCHEM,Gwalior Chemical Industri,MANSUKH SECURITIES & FINANCE LTD,BUY,143642,88.66,- 13-MAY-2008,GWALCHEM,Gwalior Chemical Industri,MBL & COMPANY LTD.,BUY,132563,89.89,- 13-MAY-2008,GWALCHEM,Gwalior Chemical Industri,VAIBHAV DOSHI,BUY,214875,90.51,- 13-MAY-2008,NUCHEM,Nuchem Ltd,JIGYASA PROPERTIES PRIVATE LIMITED,BUY,175000,27.46,- 13-MAY-2008,ORCHIDCHEM,Orchid Chemicals Ltd.,CARLSON FUND A/C CARLSON FUND EQUITY - FAR EAST,BUY,1378554,256.08,- 13-MAY-2008,ORCHIDCHEM,Orchid Chemicals Ltd.,SURESH U.TREVADIA,BUY,382255,256.86,- 13-MAY-2008,ROHITFERRO,Rohit Ferro-Tech Limited,MORGAN STANLEY DEAN WITTER MAURITIUS CO. LTD,BUY,210873,124.93,- 13-MAY-2008,GWALCHEM,Gwalior Chemical Industri,MANSUKH SECURITIES & FINANCE LTD,SELL,141917,89.02,- 13-MAY-2008,GWALCHEM,Gwalior Chemical Industri,MBL & COMPANY LTD.,SELL,132563,89.94,- 13-MAY-2008,GWALCHEM,Gwalior Chemical Industri,VAIBHAV DOSHI,SELL,189875,90.20,- 13-MAY-2008,ORCHIDCHEM,Orchid Chemicals Ltd.,SURESH U.TREVADIA,SELL,381394,256.66,-

BSE Bulk Deals to Watch - May 13 2008

Deal Date Scrip Code Scrip Name Client Name Deal Type * Quantity Price ** 13/5/2008 532975 AISHWARYA TE PRATIK H. PAREKH B 56500 106.51 13/5/2008 532975 AISHWARYA TE CHIRAG D. MEHTA B 74577 106.08 13/5/2008 532975 AISHWARYA TE HARESH LAKHMANBHAI VEKARIYA B 63075 104.29 13/5/2008 532975 AISHWARYA TE ARCADIA SHARE AND STOCK BROKERS PVT LTD B 68052 101.20 13/5/2008 532975 AISHWARYA TE MALA H SHETH B 147009 103.91 13/5/2008 532975 AISHWARYA TE PANNABEN PANKAJ SHAH B 63500 104.01 13/5/2008 532975 AISHWARYA TE SHETTY MANISH NARAYANBHAI B 234889 104.93 13/5/2008 532975 AISHWARYA TE YES INVESTMENTS B 130000 101.30 13/5/2008 532975 AISHWARYA TE V J PATEL INVESTMENT B 272464 105.18 13/5/2008 532975 AISHWARYA TE LAXMANDAS JETHANAND ADWANI B 71035 105.82 13/5/2008 532975 AISHWARYA TE MALTI RAMESHCHANDRA KANANI B 70000 105.20 13/5/2008 532975 AISHWARYA TE GOPAL TRADERS B 438108 103.51 13/5/2008 532975 AISHWARYA TE KHATRI ENTERPRISE B 88211 102.35 13/5/2008 532975 AISHWARYA TE KASHISH FINSTOCK B 600844 101.22 13/5/2008 532975 AISHWARYA TE OPG SECURITIES PVT LTD B 62236 108.43 13/5/2008 532975 AISHWARYA TE SHAILESH M. NISSAR B 1313169 104.42 13/5/2008 532975 AISHWARYA TE DIMENSIONS INVESTMENT AND SECURITIES LTD B 90000 103.53 13/5/2008 532975 AISHWARYA TE AMAR PANDURANG PATIL B 55000 104.65 13/5/2008 532975 AISHWARYA TE SANGEETA KAKANI B 106183 103.31 13/5/2008 532975 AISHWARYA TE RAHUL DOSHI B 70000 103.53 13/5/2008 532975 AISHWARYA TE PREM MOHANLAL PARIKH B 230520 108.30 13/5/2008 532975 AISHWARYA TE HEMANT MADHUSUDAN SHETH B 70000 102.14 13/5/2008 532975 AISHWARYA TE RAMESH T VATNANI HUF B 100000 99.66 13/5/2008 532975 AISHWARYA TE NEERAJ KARAN SHARMA B 54213 103.78 13/5/2008 532975 AISHWARYA TE ANGEL INFIN PRIVATE LIMITED B 70304 104.95 13/5/2008 532975 AISHWARYA TE VAIBHAV BHALCHANDRA MAHAJAN B 78900 103.57 13/5/2008 532975 AISHWARYA TE PRABHUDAS LILLADHER PVT. LTD. B 1024768 104.05 13/5/2008 532975 AISHWARYA TE MANISHA N. MITTAL B 62000 106.19 13/5/2008 532975 AISHWARYA TE ANURAG S. SABOO B 100379 107.94 13/5/2008 532975 AISHWARYA TE ND NISSAR B 1404618 103.41 13/5/2008 532975 AISHWARYA TE N C JAIN B 184972 103.27 13/5/2008 532975 AISHWARYA TE SWATI ATUL REGE B 75000 103.26 13/5/2008 532975 AISHWARYA TE DIPAK R RATHOD B 335340 103.20 13/5/2008 532975 AISHWARYA TE BABUBHAI A CHAUHAN HUF B 80000 105.06 13/5/2008 532975 AISHWARYA TE LATIN MANHARLAL SEC PVT LTD B 349470 103.72 13/5/2008 532975 AISHWARYA TE SIDDHARTH D. MEHTA B 75000 102.50 13/5/2008 532975 AISHWARYA TE TALENT INFOWAY LIMITED B 95000 107.63 13/5/2008 532975 AISHWARYA TE ALPHA CHEMIE TRADE AGENCIES B 175997 107.00 13/5/2008 532975 AISHWARYA TE RAMESH VINODCHANDRA SHAH B 70000 104.19 13/5/2008 532975 AISHWARYA TE RAVINDRA THIMMAPPA SHETTY B 56000 103.63 13/5/2008 532975 AISHWARYA TE BHANDARI KALPESH MANMOHAN B 547266 105.00 13/5/2008 532975 AISHWARYA TE NAVEEN TAPARIA B 122564 103.32 13/5/2008 532975 AISHWARYA TE AMU SHARES AND SEC LTD B 106223 105.07 13/5/2008 532975 AISHWARYA TE MUKESH SHAH B 619213 104.66 13/5/2008 532975 AISHWARYA TE DEEPAK SHARMA B 78260 106.56 13/5/2008 532975 AISHWARYA TE KRISHNA PRASAD P S B 66500 102.43 13/5/2008 532975 AISHWARYA TE PRATIK H. PAREKH S 56500 106.80 13/5/2008 532975 AISHWARYA TE CHIRAG D. MEHTA S 74577 106.04 13/5/2008 532975 AISHWARYA TE HARESH LAKHMANBHAI VEKARIYA S 63075 103.29 13/5/2008 532975 AISHWARYA TE ARCADIA SHARE AND STOCK BROKERS PVT LTD S 73052 100.49 13/5/2008 532975 AISHWARYA TE MALA H SHETH S 147009 106.38 13/5/2008 532975 AISHWARYA TE PANNABEN PANKAJ SHAH S 63500 108.00 13/5/2008 532975 AISHWARYA TE SHETTY MANISH NARAYANBHAI S 234889 109.29 13/5/2008 532975 AISHWARYA TE YES INVESTMENTS S 132500 102.80 13/5/2008 532975 AISHWARYA TE V J PATEL INVESTMENT S 222464 108.36 13/5/2008 532975 AISHWARYA TE LAXMANDAS JETHANAND ADWANI S 71035 105.05 13/5/2008 532975 AISHWARYA TE MALTI RAMESHCHANDRA KANANI S 70000 104.91 13/5/2008 532975 AISHWARYA TE GOPAL TRADERS S 238108 105.07 13/5/2008 532975 AISHWARYA TE KASHISH FINSTOCK S 600844 104.10 13/5/2008 532975 AISHWARYA TE OPG SECURITIES PVT LTD S 62236 108.43 13/5/2008 532975 AISHWARYA TE SHAILESH M. NISSAR S 1309685 104.55 13/5/2008 532975 AISHWARYA TE DIMENSIONS INVESTMENT AND SECURITIES LTD S 90000 106.74 13/5/2008 532975 AISHWARYA TE AMAR PANDURANG PATIL S 55000 104.95 13/5/2008 532975 AISHWARYA TE SANGEETA KAKANI S 106183 103.14 13/5/2008 532975 AISHWARYA TE RAHUL DOSHI S 70000 101.74 13/5/2008 532975 AISHWARYA TE PREM MOHANLAL PARIKH S 180520 106.29 13/5/2008 532975 AISHWARYA TE HEMANT MADHUSUDAN SHETH S 70000 103.74 13/5/2008 532975 AISHWARYA TE BHAVESH PRAKASH PABARI S 100000 103.36 13/5/2008 532975 AISHWARYA TE RAMESH T VATNANI HUF S 100000 106.45 13/5/2008 532975 AISHWARYA TE NEERAJ KARAN SHARMA S 54213 101.47 13/5/2008 532975 AISHWARYA TE ANGEL INFIN PRIVATE LIMITED S 75304 104.87 13/5/2008 532975 AISHWARYA TE VAIBHAV BHALCHANDRA MAHAJAN S 78900 103.58 13/5/2008 532975 AISHWARYA TE PRABHUDAS LILLADHER PVT. LTD. S 1024768 104.13 13/5/2008 532975 AISHWARYA TE MANISHA N. MITTAL S 62000 106.51 13/5/2008 532975 AISHWARYA TE ANURAG S. SABOO S 100379 104.75 13/5/2008 532975 AISHWARYA TE N D NISSAR S 1404618 103.46 13/5/2008 532975 AISHWARYA TE N C JAIN S 183972 103.41 13/5/2008 532975 AISHWARYA TE DIPAK R RATHOD S 335340 104.71 13/5/2008 532975 AISHWARYA TE BABUBHAI A CHAUHAN HUF S 80000 100.44 13/5/2008 532975 AISHWARYA TE LATIN MANHARLAL SEC PVT LTD S 349918 103.78 13/5/2008 532975 AISHWARYA TE SIDDHARTH D. MEHTA S 75000 102.79 13/5/2008 532975 AISHWARYA TE TALENT INFOWAY LIMITED S 95000 106.02 13/5/2008 532975 AISHWARYA TE ALPHA CHEMIE TRADE AGENCIES S 175997 105.27 13/5/2008 532975 AISHWARYA TE RAMESH VINODCHANDRA SHAH S 70000 104.58 13/5/2008 532975 AISHWARYA TE RAVINDRA THIMMAPPA SHETTY S 56000 104.67 13/5/2008 532975 AISHWARYA TE BHANDARI KALPESH MANMOHAN S 547266 105.10 13/5/2008 532975 AISHWARYA TE NAVEEN TAPARIA S 122564 104.39 13/5/2008 532975 AISHWARYA TE AMU SHARES AND SEC LTD S 106223 105.17 13/5/2008 532975 AISHWARYA TE MUKESH SHAH S 619213 104.79 13/5/2008 532975 AISHWARYA TE DEEPAK SHARMA S 78260 104.24 13/5/2008 532975 AISHWARYA TE KRISHNA PRASAD P S S 66500 102.63 13/5/2008 505036 AUTOMO COR G ICICI PRUDENTIAL MUTUAL FUND S 265447 250.00 13/5/2008 509728 BHURUKA GAS SATAYANARAYAN AGARWAL S 140000 19.65 13/5/2008 590059 BIHAR TUBES HARDIK M MITHANI B 45000 177.87 13/5/2008 590059 BIHAR TUBES NISHWET MANAGEMENT SERVICES PVT LYD B 50000 177.74 13/5/2008 590059 BIHAR TUBES M D KOTECHA B 50000 180.77 13/5/2008 590059 BIHAR TUBES N C JAIN B 39452 179.73 13/5/2008 590059 BIHAR TUBES IGSL TRADING ACCOUNT B 70761 178.10 13/5/2008 590059 BIHAR TUBES HARDIK M MITHANI S 47940 177.38 13/5/2008 590059 BIHAR TUBES N C JAIN S 39452 180.06 13/5/2008 509475 BOMBAY PAINT PURSHOTTAM JAMNADAS RATHI B 10000 98.49 13/5/2008 590076 CAMSON BIO KOTAK MAHINDRA U.K.LTD B 200000 122.88 13/5/2008 590076 CAMSON BIO PIVOTAL SECURITES PVT. LTD. S 154341 122.89 13/5/2008 531682 CAT TECHNOL EDELWEISS ESTATES PRIVATE LIMITED S 167724 8.01 13/5/2008 531137 GEMSTONE INV HEMANT MADHUSUDAN SHETH B 25000 22.70 13/5/2008 531137 GEMSTONE INV BHAVESH PRAKASH PABARI B 22000 22.25 13/5/2008 532764 GWALIOR CHEM MANSUKH STOCK BROKERS LTD B 166956 88.56 13/5/2008 532764 GWALIOR CHEM MANSUKH STOCK BROKERS LTD S 166573 88.43 13/5/2008 522165 INDSIL ELECT RIKEEN PRADIO DALAL S 80842 72.81 13/5/2008 532081 K SERA SERA EDELWEISS ESTATES PRIVATE LIMITED B 508532 30.32 13/5/2008 532081 K SERA SERA EDELWEISS ESTATES PRIVATE LIMITED S 531283 30.33 13/5/2008 530955 KAILASH FICO DYNAMIC PROCESS PVT LTD S 117751 44.95 13/5/2008 505283 KIRLOSAR PN RELIANCE MUTUAL FUND B 373502 421.00 13/5/2008 505283 KIRLOSAR PN FRANKLIN TEMPLETON MUTUAL FUND S 373506 421.00 13/5/2008 531602 KOFF BR PICT LAXMI CAP BROKING PVT LTD B 44519 21.67 13/5/2008 511768 MASTER TRUST GEOMATRIX HK LTD AC DUMAURITIUS CAPITAL LLC B 499990 101.00 13/5/2008 511768 MASTER TRUST G S AUTO LEASING LTD S 185000 101.00 13/5/2008 511768 MASTER TRUST SHIVALIK SECURITIES LTD S 177000 101.00 13/5/2008 511768 MASTER TRUST GALA FINANCE INVESTMENT S 138000 101.00 13/5/2008 531096 MOUNT EVE MI ARISAIG PARTNERS ASIA PTE LTD AC ARISAIG INDIA FUND LTD B 226879 169.99 13/5/2008 531096 MOUNT EVE MI MORGAN STANLEY MAURITIUS COMPANY LTD S 225000 170.00 13/5/2008 524372 ORCHID CHEM DNB ASSET MANAGEMENT ASIA LIMITED B 720000 255.71 13/5/2008 524372 ORCHID CHEM OPG SECURITIES PVT LTD B 411453 258.07 13/5/2008 524372 ORCHID CHEM OPG SECURITIES PVT LTD S 411453 258.24 13/5/2008 512487 RAJENDRA ELE VAISHRAVAN TRADING LTD B 220250 18.75 13/5/2008 512487 RAJENDRA ELE LAKSHMINARAYAN REALTIES AND SERVICES LTD B 220250 18.75 13/5/2008 512487 RAJENDRA ELE SARAF VINODKUMAR S 200000 18.75 13/5/2008 512487 RAJENDRA ELE OPTIMA SECURITIES INDIA PVT LTD S 241000 18.75 13/5/2008 590077 RANKLIN SOLU V MANIKYALA RAO S 30000 120.10 13/5/2008 532731 ROHIT FERRO MORGAN STANLEY MAURITIUS COMPANY LTD B 187687 124.96 13/5/2008 531312 SANRA SOFTW OM EDUCATION IT PVT LTD B 71927 81.53 13/5/2008 531312 SANRA SOFTW AYODHYAPATI INVESTMENT PVT LTD B 129072 80.98 13/5/2008 531312 SANRA SOFTW MAHESH CHOTALAL SHAH B 119085 82.00 13/5/2008 531312 SANRA SOFTW OM EDUCATION IT PVT LTD S 65427 82.05 13/5/2008 531312 SANRA SOFTW AYODHYAPATI INVESTMENT PVT LTD S 129072 80.97 13/5/2008 590046 SMRUTHI ORG NANAK BHAGWANDAS KRISHNANI S 24500 60.73 13/5/2008 508976 SPANC TELESY ALOSHA VANIJYA PVT LTD S 97000 158.37 13/5/2008 532966 TITAGARH WAG OPG SECURITIES PVT LTD B 268879 787.73 13/5/2008 532966 TITAGARH WAG OPG SECURITIES PVT LTD S 268879 788.04 13/5/2008 532765 USHER AGRO MUKESH G KONDE B 160321 145.86 13/5/2008 532765 USHER AGRO UBS SECURITIES ASIA LTD AC SWISS FINANCE CORP. MAU LTD B 109718 145.45 13/5/2008 532765 USHER AGRO MUKESH G KONDE S 160321 145.99 13/5/2008 532765 USHER AGRO MAYANKKUMAR RAMESHCHANDRA BHAT S 151322 145.31 13/5/2008 505930 VISHAL MELL. RACHNA BAGGA B 10000 38.75 13/5/2008 505930 VISHAL MELL. LALIT SINGHAL S 10000 38.75 13/5/2008 531249 WELL PACK PA CHINTAN P SHAH B 51000 47.04 13/5/2008 511601 YASH MANA SA UPSURGE INVESTMENT AND FINANCE B 100000 11.00

Post Session Commentary - May 13 2008

Indian market closed in red due to negative cues from European markets that led to the profit booking by the investors during the final trading hours. Investors take cautious approach to book their position during closing as oil stocks lost ground due to the news from oil ministry that the union cabinet is not going to bear 57% of the total under recovery through oil bonds. Earlier in February this year, the government claimed that it would bear 57% of the total under-recovery of three oil marketing companies- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) - through oil bonds. The domestic market opened on strong note on the back of favoring global cues. After remaining in the positive territory for most part of the day, the market lost he grip in the final hours to close on a disappointment note. The investors showed their active participation during the first half of the trading session. From the sectoral front, the oil and gas stocks were not in favour and dropped over 2%. The market breadth was positive as 1410 stocks closed in green while 1305 stocks closed in red. The BSE Sensex closed lower by 108.04 points at 16752.86 and NSE Nifty fell by 54.85 points to close at 4,957.80. It touched an intraday high of 17,085.63 and low of 16,697.47. The BSE Mid Cap closed higher by 10.90 points and Small Cap closed lower by 5.85 points to 6,956.81 and 8,397.71 respectively. Losers from the BSE are ONG Corp Ltd (63.08%), ACC LTD (2.66%), Wipro Ltd (2.66%), Reliance (2.08%), Bharti Airtel (2.03%), Ranbaxy Lab (1.84%) and Grasim Industries (1.64%). The Oil & Gas index closed lower by 286.32 points at 10907.37. Lossers are Cairn India (8.48%), Essar Oil Ltd (3.95%), ONG Corp Ltd (3.08%), Aban Offshore (2.77%%) and Bharat Petrolium Corp Ltd (2.6%). The Capital Goods index declined by 60.85 points to close at 13,060.97. Major losers are KirOil Eng (4.98%), Elecon Eng (3.17%), Praj Industries Ltd 2.67%), Thermax Ltd (1.53%), Crompton Greaves Ltd (1.04%) and SKF India (1.00%). The IT index closed lower by 32.70 points at 4,265.14. Losers are Fiananc Tech (2.91%), Wipro Ltd (2.66%), TCS Ltd (2.33%), NIIT Tech (1.91%), Tech Mahindra (1.75%), and Infosys Techonologies (1.43%). The Metal index closed higher by 100.57 points at 15,747.88 gainrs are Nat Aluminium Co (6.24%), JSW SL (3.42%), Gujarat Nre C (2.87%), Hindalco (2.83%), Jindal Steel (2.26%), and Tata Steel (1.01%). The Consumer Durables index closed higher by 60.32 points at 4,401.45. Gainrs are Titan Ind (7.01%), Lloyd Ele En (2.12%), Gitanjali Ge (0.27%), and Rajesh Export (0.10%).

Market maimed amid sharp volatility

Fall in global crude oil prices and even positive international indices failed to lift market sentiment. The Sensex after gaining 225 points in early trades and touching the day's high of 17,086 drifted into negative territory in late morning trades. In noon trades, sentiment turned extremely bearish as sustained selling in heavyweights, oil & gas, teck and IT stocks dragged the index below the 16,700 mark to an intra-day low of 16,697. Finally the Sensex ended the session with losses of 108 points at 16,753, after gyrating 389 points during intra-day trades. Nifty dropped 55 points to close at 4,958. However, the market breadth was positive. Of the 2,784 stocks traded on the BSE, 1,410 stocks advanced, 1,305 stocks declined and the remaining 69 stocks ended unchanged. All the sectoral indices were down today. Among sectoral indices, BSE Oil & Gas index dropped 2.56%, BSE Teck index dipped 0.88%, BSE IT index lost 0.76%, BSE CG index declined 0.46% and BSE Auto index was down 0.39%. Dragging the index ONGC dropped 3.08% at Rs997.10, ACC slumped 2.66% at Rs683, Wipro lost 2.66% at Rs494.20, TCS declined 2.33% at Rs905.70, Reliance Industries moved down 2.08% at 2,501.45 and Bharti Airtel shed 2.03% at Rs821.25. Among other heavy losers, among oil & gas stocks, Cairn Energy lost 8.48% at Rs277.25, Essar Oil slumped 3.95% at Rs250.25, Aban Offshore tumbled 3.08% at Rs997.10, BPCL slipped by 2.68% at Rs348.50 and Reliance Petroleum dipped 2.06% at Rs178.20. IOC however bucked the downtrend and soared closing with marginal gains. Over 7.26 crore Aishwarya Telecom shares changed hands on the BSE followed by IFCI (3.50 crore shares), Ispat Industries (1.47 crore shares), Reliance Petroleum (1.18 crore shares) and Reliance Natural Resources Ltd (1.16 crore shares).

Nifty settles below 5,000; IT stocks give up early gains

Indian equities reversed early gains in choppy trade to settle lower closely mirroring European markets which opened after Indian market. Latest data showing higher than expected UK inflation figures pulled European markets lower after firm start. The S&P CNX Nifty slipped below 5,000 mark. The market had opened higher tracking firm global markets with the Sensex surging past 17,000 mark in opening trade. It failed to sustain higher levels. The market breadth was just about positive, after staying strong throughout the day. The 30-share BSE Sensex slipped 108.04 points or 0.64% at 16,752.86. Sensex lost 163.43 points at day’s low of 16,697.47 touched in late trade. Sensex had opened 147.13 points higher at 17,008.03. The barometer index hit a high of 17,085.63 in early afternoon trade. At the day’s high, Sensex gained 224.73 points. The broader based S&P CNX Nifty shed 54.85 points or 1.09% at 4,957.80. Nifty May 2008 futures were at 4954, a discount of 3.80 points as compared to spot closing As per provisional data, foreign funds bought shares worth a net Rs 73.93 crore today. Domestic funds bought shares worth a net Rs 266.50 crore. The market breadth was just about positive, after staying strong throughout the day. On BSE 1366 shares advanced as compared to 1341 that declined. 76 remained unchanged. The BSE Mid-Cap index was up 0.16% to 6,956.81 while the BSE Small-Cap index declined 0.07% to 8,397.71. Both these indices outperformed the Sensex. The total turnover on BSE amounted to Rs 6596 crore as compared to Rs 6,007.51 crore yesterday, 12 May 2008. Turnover in NSE’s futures & options segment amounted to Rs 38107.72 crore as compared to Rs 41000.8 crore yesterday, 12 May 2008. Sectoral indices on BSE displayed mixed trend. The BSE FMCG index (up 0.57% to 2,500.33), BSE PSU index (down 0.32% to 7,713.53), BSE Bankex (up 0.43% at 8,601.84), BSE Auto (down 0.39% at 4,669.95), BSE Health Care index (up 0.02% at 4,178.25), BSE Metal index (up 0.64% to 15,747.88), BSE Realty index (up 0.13% at 7,747.12), BSE Power (down 0.18% to 3,213.24), BSE Capital Goods index (down 0.46% at 13,060.97), and BSE Consumer Durables index (up 1.39% to 4,401.45), outperformed the Sensex. The BSE Oil & Gas index (down 2.56% at 10,907.37), BSE TecK index (down 0.88% to 3,379.07), BSE IT index (down 0.76% to 4,265.14), underperformed the Sensex. Among the 30-member Sensex pack, 21 declined while the rest advanced. Metal stocks gained on renewed buying. India’s largest private sector aluminium company in terms of sales Hindalco Industries advanced 2.97% to Rs 180.20 on 8.84 lakh shares. It was the top gainer from Sensex pack. Tata Steel (up 1.21% to Rs 853), JSW Steel (up 3.46% to Rs 959.90) and National Aluminium Company (up 7.26% to Rs 487) advanced. India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) slumped 2.13% to Rs 2500.05 on 7.52 lakh shares. Jaiprakash Associates (up 1.97% to Rs 251.25), and ICICI Bank (up 0.42% to Rs 882), edged higher from Sensex pack. IT stocks pared gains. India’s fourth largest software services exporter Satyam Computer Services rose 1.22% to Rs 495.50, off session's high of Rs 505.70. India’s largest software services exporter TCS slumped 3.16% to Rs 898, off sharply from day’s high of Rs 945. It was the top loser from Sensex pack. Infosys Technologies (down 1.83% to Rs 1740, off day’s high of Rs 1813) and Wipro (down 3.08% to Rs 492.05, off day’s high of Rs 510.95), dropped. India’s largest commercial bank in terms of total assets State Bank of India rose 0.40% to Rs 1670 after is signed a memorandum of understanding with Insurance Australia Group for a general insurance venture to tap the fast-growing Indian market. Oil exploration heavyweights corrected today, as soaring crude oil prices took a pause after recent rally. Oil & Natural Gas Corporation, the country’s largest state run oil exploration company in terms of sales, slipped 2.60% to Rs 1002. Cairn India, the country’s largest private sector oil exploration company tumbled 8.90% to Rs 276 on high volumes of 86.38 lakh shares. Bharti Airtel, the country’s largest telecom services provider in terms of market capitalisation shed 2.05% to Rs 821.10. UAE's Emirates Telecommunications Corp said on Monday, 12 May 2008, it was evaluating a bid for South African telecom firm MTN. This may compel Bharti Airtel to raise its indicative offer, which media reports said valued MTN at about $37 billion. Engineering heavyweights Bharat Heavy Electricals (down 0.58% to Rs 1738), and Larsen & Toubro (down 1.69% to Rs 2787), declined DLF, the country’s largest real estate developer in terms of market capitalisation shed 1.25% to Rs 614.10. As per reports, the company will file papers for $2 billion real estate investment trust (REIT) with the Singapore authorities next month. Reliance Communications, the country’s second largest telecom services provider in terms of market capitalisation lost 0.90% to Rs 545. The company has formed a joint venture with French-US equipment firm Alcatel-Lucent to offer managed network services to domestic as well as international telecom operators. Tata Motors (down 2.48% to Rs 652), Ranbaxy Laboratories (down 2.06% to Rs 484) and ACC (down 2.94% to Rs 681), edged lower from Sensex pack. Recently listed Aishwarya Telecom jumped 5.81% to Rs 104.80. It was the top traded counter on BSE with turnover of Rs 592.02 crore. Cairn India (Rs 247.16 crore), Reliance Petroleum (Rs 216.72 crore), IFCI (Rs 212.81 crore) and Reliance Industries (Rs 190.77 crore) were the other turnover toppers. Aishwarya Telecom, also, topped the volume chart clocking volumes of 7.26 crore shares on BSE followed by IFCI (3.50 crore shares), Ispat Industries (1.47 crore shares), Reliance Petroleum (1.19 crore shares) and Reliance Natural Resources (1.17 crore shares), in that order Among the other side counters, Rallis India plunged 6.19% to Rs 422.25 after it went Rs 16 per share ex-dividend from today. MphasiS jumped 8.32% to Rs 239 on reports Hewlett-Packard was in talks to buy outsourcing firm Electronic Data Systems, which owns a majority stake in the Indian software firm. If the deal fructifies, it will trigger the mandatory open offer for 20% stake in Mphasis, as per the Securities & Exchange Board of India (Sebi) takeover regulation. EDS holds 60.89% stake in MphasiS. Thermax shed 1.13% to Rs 459 despite reports the company plans to invest over Rs 200 crore in this financial year for expansion purpose. GAIL India dropped 2.20% to Rs 406 after posting a marginal 6.12% rise in net profit to Rs 722.38 crore on 25.99% increase in total income to Rs 5034.95 crore in Q4 March 2008 over Q4 March 2007. The company announced the results during trading hours today, 13 May 2008. Phillips Carbon Black fell 3.84% to Rs 181.35. The company said on Monday, 12 May 2008, it has signed a joint venture agreement with subsidiaries of Vietnam National Chemical Corp to set up a carbon black facility in Vietnam. Indiabulls Real Estate surged 3.30% to Rs 535 after reporting 362.9% surge in net profit to Rs 27.82 crore on 765.20% increase in net sales to Rs 28.81 crore in Q4 March 2008 over Q4 March 2007. The company announced the results after trading hours on Monday, 12 May 2008. Bajaj Holdings & Investments slipped 0.90% to Rs 676. As per reports Bajaj Auto plans to sign a joint venture with European car maker Renault and Japanese giant Nissan to manufacture a small car in India with a price tag of $2500. European markets, which opened after Indian markets, reversed early gains after UK’s consumer price inflation rose to an annual rate of 3% in April 2008, which dampened expectations of near-term interest rate cuts. Key benchmark indices in Germany (down 0.30% to 7,015.05), France (down 0.41% to 4,955.47), and United Kingdom (down 0.79% to 6,171.50) edged lower. Asian markets were trading higher barring China’s Shanghai Composite which fell 1.84% at 3,560.62 led on uncertainty following a deadly earthquake in southwest China on Monday, 12 May 2008 and the central bank's announcement of the fourth bank reserve ratio hike this year. Hang Seng (up 1.95% at 25,552.77), Nikkei 225 Average (up 1.53% at 13,953.73), Straits Times (up 0.73% at 3,203.42), Seoul Composite (up 1.05% at 1,842.80), Taiwan Weighted (up 1.81% at 8,989.15) advanced. US markets rallied yesterday, 12 May 2008 led by financials and technology stocks after the world's largest bond insurer MBIA said it has enough cash to cover claims. Also the drop in oil prices helped ease investors worries about inflation's impact on consumer spending. The Dow Jones industrial average rose 130.43 points, or 1.02%, to 12,876.31. The Nasdaq Composite index rose 42.97 points, or 1.76%, to 2,488.49. Back home, frenzied buying in late trade helped market snap its five-day slide yesterday, 12 May 2008. The 30-share BSE Sensex rose 123.83 points or 0.74% to 16,860.90 and the broader based S&P CNX Nifty was up 30.05 points or 0.60% at 5,012.65, on that day. India's industrial production growth dropped sharply to 3% in March 2008, slowing from the previous month's unrevised 8.6%, government data showed on Monday, 12 May 2008. It was the slowest annual growth since a 2.4% rise in February 2002. Manufacturing production rose 2.9% in March 2008 from a year earlier, compared with 8.6% growth in February 2008. Industrial output rose 8.1% in 2007/08 compared with 11.6% in 2006/07. New York's main oil futures contract, light sweet crude for June delivery, was 73 cents lower at $123.50 as profit taking helped cool a red-hot market.

Morning Call - May 13 2008

Market Grape Wine : In House : Nifty at a support of 4980 and 4942 with a resist of 5030 and 5070 Cash: Buy: Relcap above 1305 tgt of 147 with aSL of 1284 Buy: Kotak bank above 743 tgt of 765 with aSL of 736 F&O: Buy: L& t above 2854 tgtt of 2950 with a Sl of 2820 buy: Rpl above 180 tgt of 191 with a Sl of 175 Positinal buy: Buy: Ranbaxy above 480~486 tgt of 535 with a Sl of 475 Buy: Suzlan above 277~279 tgt of 320 with aSL of 270 Out House : Markets at a support of 16686 & 16786 and resistance at 17017 & 17171 levels . Buy : RPL Buy : RIL Buy : Infy & Wipro Buy : NTPC & RPower Buy : BombayDye Buy : SKumar Buy : Coreproject Buy : IFCI Dark Horse : SKumar ,Emami , CORE, INFY , RIL , GujNRE & RPL

Pre Market Watch - May 13 2008

The Indian Market is likely to have a positive opening as the US market closed in green and Asian market is trading with marginal gains. On Monday, the Indian market beat its previous day losing trend to close in green as the investors showed some buying interest towards the close of the session. Despite disappointing industrial output data that stood at 3%, which was six years low the market managed to recover from the initial fall. The reality stocks were not in favour as most selling was reported from these baskets. However oil and gas stocks were in limelight. The BSE Sensex closed higher by 123.83 points at 16,860.90 and NSE Nifty went up 30.05 points to close at 5,012.65. We expect that the market may remain range bound during the trading session. On Monday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 130.43 points at 12,876.31 along with S&P 500 grew by 15.30 points to close at 1,403.58 and NASDAQ higher by 42.97 points to close at 2,488.49. Indian ADRS ended mixed. In technology sector, Infosys went up (1.56%) along with Satyam (1.54%), Wipro (1.39%) and Patni Computers by (0.70%). In banking sector, HDFC bank grew by (0.79%) while ICICI bank dropped by (0.61%). In telecommunication sector, MTNL and Tata Communication slipped by (0.20%) and (1.18%). Dr Reddy’s declined by (1.77%). Today the major stock markets in Asia are trading higher. Taiwan Weighted is trading up by 125.91 points at 8,955.96 along with Japan’s Nikkei trading higher by 88.49 points at 13,831.85 and Hang Seng index also trading at 25,071.43 up 8.26points. The FIIs on Thursday stood as net seller in equity. The gross equity purchased was Rs3,368.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,739.20 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs(370.50) Crore and net debt was Rs0.00 Crore. Today, Nifty has support at 4,953 and resistance at 5,182 and BSE Sensex has support at 16,581 and resistance at 17,134.

Market braced for higher opening

Indian equities are geared for higher opening today, 13 May 2008 following firm cues from global markets. Retreating crude oil prices from record high may also lift the sentiment. With results already declared from majority of the frontline corporates, the result season has almost come to an end. The near term trend is likely to be dictated by global cues. Aggregate results of 1680 companies showed 18.40% rise in net profit on 22.80% rise in net sales in Q4 March 2008 over Q4 March 2007, so far. There was 29.80% rise in net profit on 23.60% rise in net sales in the year ended March 2008 over year ended March 2007. Asian markets were trading higher barring China’s Shanghai Composite which fell 49.42 points or 1.36% at 3,577.56 led on uncertainty following a deadly earthquake in southwest China on Monday, 12 May 2008 and the central bank's announcement of the fourth bank reserve ratio hike this year. Hang Seng (up 0.03% at 25,071.43), Nikkei 225 Average (up 0.64% at 13,831.85), Straits Times (up 0.28% at 3,189.10), Seoul Composite (up 0.05% at 1,824.60), Taiwan Weighted (up 1.43% at 8,955.96) advanced. US markets rallied yesterday, 12 May 2008 led by financials and technology stocks after the world's largest bond insurer MBIA said it has enough cash to cover claims. Also the drop in oil prices helped ease investors` worries about inflation`s impact on consumer spending. The Dow Jones industrial average rose 130.43 points, or 1.02%, to 12,876.31. The Nasdaq Composite index rose 42.97 points, or 1.76%, to 2,488.49. Back home, frenzied buying in late trade helped market snap its five-day slide yesterday, 12 May 2008. The 30-share BSE Sensex rose 123.83 points or 0.74% to 16,860.90 and the broader based S&P CNX Nifty was up 30.05 points or 0.60% at 5,012.65, on that day. India's industrial production growth dropped sharply to 3% in March 2008, slowing from the previous month's unrevised 8.6%, government data showed on Monday, 12 May 2008. It was the slowest annual growth since a 2.4% rise in February 2002. Manufacturing production rose 2.9% in March 2008 from a year earlier, compared with 8.6% growth in February 2008. Industrial output rose 8.1% in 2007/08 compared with 11.6% in 2006/07. As per provisional data, foreign funds sold shares worth a net Rs 210.57 crore yesterday, 12 May 2008. Domestic funds bought shares worth a net Rs 241.01 crore on that day. Foreign institutional investors (FIIs) were net buyers of Rs 572.46 crore in the futures & options segment yesterday, 12 May 2008. They were net buyers of index futures to the tune of Rs 184.03 crore and bought index options worth Rs 311.27 crore. They were net buyers of stock futures to the tune of Rs 73.19 crore and bought stock options worth Rs 3.97 crore. New York's main oil futures contract, light sweet crude for June delivery, was 73 cents lower at $123.50 as profit taking helped cool a red-hot market.