Market Report 20 Feb 08

Markets yesterday witnessed the resistance levels and exactly saw the profit booking levels from the indices . It was a choppy trade where sensex loses all its gains after opening with gains .

It looks like the Indina markets are preety much are on the guidelines of its counterparts of Asian markets , after the weak opening of the European markets sensex sheded all the gains and fell to close almost 25 points higher.

DOw in yesterday trade ended in red after opening higher on account of better results by WAL mart . DOw did came into red as the fear of inflation rise as first time the oil closes abv $100 Barallel a mark . The oil has first time in history has closed above this lvls aslo it has touchd $100 mark before but closed below that. Analyst say the demand and rate will rise despite of the enough supply from OPEC.

Markets today likely to be very dull as Asian markets are trading weak and indin markets may follow to open weak and may trade dull .

Govt in a surprising move today extended tax sops to exporters covering transport and storage of goods. Taxes will be refunded back to the exporters. Logistics companies are likely to benefit from this move. Gateway Distriparks, Container Coporation, Patel Integrated Logistcs are few listed players in this segment...

Yesterday listing of onmobile surprized everyone when it was listed at healthy premium and was trading with enough gains almost 150 Rs high ..
Volatility will be very high today .. so trade with strict sl .

Bang Overseas Ltd & Shriram EPC Ltd are listing on BSE today. ..

REC(Rural Electrification Corporation), the govt. owned power finance corporation subscribed in the first 30 mins of its opening.. as most analyst are giving it 3.5 start rating and is good to apply for mid term ..we at moneygurus are reccom our readers and clients to apply for same ..

FDI in cable tv .. some announcements are expected thru budget...

After restructuring its pharmaceuticals and investment businesses into two different entities, RPG Life Sciences hopes to get its pharmaceuticals business listed around March or April.
Reliance Industries Ltd (RIL) and Essar Oil Ltd have raised the retail selling prices of auto fuels – petrol and diesel – sold by them. The private sector retailers have increased the price of petrol by Rs 2 a litre and diesel by Re 1 per litre...

Bombay Dyeing plans to turn around its textile business in FY09.

Shopper's Stop rallied by over 15% to Rs451 on report that Reliance Industries and Aditya Birla Group were interested in buying the retail chain. However, the company came out and clarified that the company was not on sale..
Ranbaxy spurted by over 4.5% to Rs415 after the Board of directors of the company approved demerger of research unit..

Educomp Solutions surged by over 6% to Rs4355 after reports stated that the company has entered into an agreement with Ansal Properties and Infrastructure to set up schools in 16 integrated townships with an investment of about Rs2.5bn over the next three years.. it was a buy call to out memebers yesterday ..

watch out

Ranbaxy board approves de-merger of its R&D unit. The swap ratio has been fixed at 4:1. ..

Reliance Capital gets RBI approval for ARC business..

M&M is targeting revenues worth US$3bn over the next ten years from deals in the defense space involving supply of land equipment systems to the armed forces. ..
Reliance Communications likely to place an order for 5mn set top boxes for its proposed DTH broadcasting venture.

Bajaj Auto gets High Court approval for the proposed de-merger..
Tata Group invests an undisclosed sum in Singapore-based private jet operator, BJETS..
Stand-alone tower companies such as Essar Telecom Tower, GTL Infra, Quipo, Xcel Telecom and TowerVision are planning to consolidate their businesses to compete with existing big three tower companies..

Patel Engineering in a JV with KNR Constructions has bagged a Rs2.1bn NHAI contract..
..
market expected to open in red .. but we may see some bottom fishing and buying in declines...

nifty at support of 5200 and resis at 5380 lvls..

Have a grt DAY !!