Market report 22 May 08

We told u much before crude is heading towards 135$ mark and here we are u can see the crude boiling towards 134 mark and the effect also be seen when DOw tumbled almost 200+ points and fears of high inflation and crude prices.. the rise was mainly due to the newzz that crude current production might not be able to meet the requirements..

Indian markets recvrd the loses very smartly yesterday with mid cap was in good action , but how wuld be today , with global weakness it culd turn out to be bad day for the bulls although we are in narrow range of trading 4900-5200 ... but frm these lvls it is offcourse we may see some dwnwards towards 5050-5000 lvls.. 4930 wuld remain the mind lvls and 4900 the all long lvls to hold...

some of the low lvls oil ref comp saw a spike yesterday trade on acccnt of crude .. like HOEC , RPL , tamil naidu petro ... stake sale newzz of cairn is totaly on baseless rumurs and u wuld be hesring taht soon .. market was hot with open offer newz of cairn shareholders but it is as of noww baseless rumurs..

IFCI made a come back but again rumurs playing here .. bidding by RIL @ 96 pers share ... rumurs might take it to 68 lvls... and doo book profit bcozz there is no such news as of noww..

Rohit Ferro-Tech Ltd (RFTL) has entered into a memorandum of understanding with the Pacific Samudra Perkasa Group of Indonesia to acquire 60 per cent stake in two coal mining companies in Indonesia... the stock has performed extremlyy well in the last 1 yr , if u compare it with return of sensex its almost more that double as compared to sensex.. its a long term stroyy and investors are suggested to buy it with mid term view.. for good appreciation...

long can be trade at 5010 lvls with 4970 as sl in nifty and higher lvls shuld be used for profit booking ...

KGN Industries is engaged in the business of trading in agro commodities like castor seeds, edible oils like soyabean oil, palm oil, non edible oils like petroleum products, lubricants, used oil... saw something uncommon.. the script made high of 55,000 when the trading was halted by SEBI ,, it was getting relisted after the trading has been stopped 7yrs back.. now it will resume trading with circuit filter opstions .. of 20%.. something very uncommaon and very rare....

it is been known that only 1.5% of KGN share are in public and rest 98.5 are with shareholders of the company...

HDIL The board of directors of the company also announced that it approved 2 bonus shares for every 7 shares held. ..

Bharti Airtel has signed a US$35mn, three-year outsourcing agreement with Firstsource Solutions...
Lanco Infra gets US$150mn IFC credit for power projects..

GMR Infrastructure to diversify into corporate jet business and would invest Rs8bn for the same..

IFCI has acquired 46.7% shareholding of Mohan Exports Group in Foremost Factors Ltd in a transaction valued at about Rs116mn...
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