Stocks to watch out today(15-Jan-08)

In a yet another volatile trading session benchmark Sensex closed 100
points lower and Nifty closed marginally higher. The index heavyweight
Reliance Industries was the leading gainer. NTPC, R Com and HDFC Bank also showed some buying.
Today, we expect a strong opening on back of healthy global cues.
Thereafter, the market is likely to turn volatile again. Despite the
slowdown in FII inflows of late, the market has managed to stay firm,
though there has been a lot of intra-day volatility. Quarterly results will
continue to drive the market in the near term. Select stock specific and
sector-centric trend is the order of the day. Short-term traders may find
it really tough to make money in this kind of a market. Even long-term
investors will have to be smarter in picking up stocks.

News snippets
~ Reliance Industries has announced another gas discovery in the
Krishna Basin. (ET)
~ ONGC has struck gas in the Mahanadi basin for the third time.
(BL)
~ The board of SBI has cleared the proposal to raise capital through
rights issue in the ratio of 1:5 at a price of Rs1,590. (ET)
~ Reliance Energy and Anil Ambani have purchased 32mn shares
of Reliance Power at Rs450 per share. (BL)
~ Essar group has bought Peninsula Land’s Kurla commercial
project for Rs1,200cr. (ET)
~ Mahindra & Mahindra has launched Scorpio in Egypt in
partnership with Bavarian Auto Group. (BL)
~ Delhi High Court has declined to stay the Government’s decision
to allocate GSM spectrum to Reliance Communications. (BL)
~ Power ministry has blamed BHEL for time over run and slippages
in various projects. (FE)
~ HPCL is planning to raise Rs480cr via oil bonds sale. (FE)
~ HCC has emerged as the lowest bidder (bid at Rs37.5cr) for
building India’s first strategic crude reserve facility in
Visakhapatnam. (BS)
~ Cummins Group will invest Rs1,200cr through its ten
subsidiaries in India to expand its capacities. (ET)

Stocks to watch out today:
WelGuj (BTST call given yesterday)
NTPC
RNRL
RIL
REL