Intraday & Future Tips for 31-08-2007

Buy I Flex on declines @ 1990-1995 Target 2040-2080 SL 1980
Buy Orchid Chem on declines @ 196-199 Target 213-222 SL 193
Buy PNB on declines @ 461-467 Target 496-508 SL 455
Buy Sobha on declines @ 735-745 Target 786-798 SL 725
Buy Aptech Ltd on declines @ 280-283 Target 308-327 SL 274
Buy GTC Inds on declines @ 213 Target 230-238 SL 206
Buy VijayaBank on declines @ 54-55 Target 61-66-68 SL 51

Intraday & Future Tips for 30-08-2007

Buy BRFL @ CMP target 235-240 SL 207-210
Buy FEDERALBANK @ CMP target 340 SL 310
Buy REL @ 782.15 Target 798-820 SL 760
Buy TATAPOWER @ 685.20 Target 705-720 SL 670
Buy M&M @ 654.40 Target 670-685 SL 638
Buy ADLABS @ 473.50 Target 485-502 SL 454
Buy MICELE @ 418-422 Target 435-467 SL 399
Buy ZEEL @ 287 Target 307-316-322 SL 281
Futures Positional:
Buy ICICIBANK @ 861.90 Target 895-910 SL 835
Buy INFOSYS @ 1839.80 Target 1905-1930 SL 1775
Buy LUPIN @ 580 Target 620-632 SL 570
Buy TCS @ 1028 Target 1040-1060 SL 985

Intraday & Future Tips for 29-08-2007

NIFTY Support at 4245-4250 Resistance at4325-4337
SENSEX Support at 14709-14657 Resistance at 14925-14977
For Intraday & Short term:
BUY SUZLON on declines @ 1220-1230 Target 1270-1275 SL 1200-1205
BUY SKUMARS @ abv 110.50 Target 116-117.50 Short term 122-125 & 135-140
BUY TV TODAY on declines @ 143-145 Target 163-175-182 (ST) SL 136
BUY BALAJITELE on declines @ 235 Target 256-266 SL 227
Futures Positional:
BUY BPCL SEP FUTURE on declines @ 286-290 Target 310-316 SL 282
BUY IOC SEP FUTURE on declines @ 366-370 Target 388-397 SL 362
BUY ONGC SEP FUTURE on declines @ 772-780 Target 820-836 SL 764
BUY SCI SEP FUTURE on declines @ 177-180 Target 192-197 SL 174

Intraday & Future Tips for 28-08-2007

Buy ICICIBANK on declines @ 875-885 Target 900+ SL 865
Buy HDIL on declines @ 530-535 Target 550-555 SL 525
Buy TCS on declines @ 1005 Target 1045-1070-1090 SL 988
Buy RENUKA on declines @ 465-468 Target 490-509-512 SL 460
Buy CANBK Future on declines @ 227-231 Target 248-260 SL 223
Buy HINDPETRO Future on declines @ 225-228 Target 243-250 SL 222
Buy MTNL Future on declines @ 132-135 Target 145-150 SL 129
Buy ORIENTBANK Future on declines @ 194-198 Target 220-226 SL 190

Futures & Weekly Stocks as on 27-08-2007

Future Stocks For positional

Buy Lupin Future on declines @ 564-570 Target 610-620 SL 558
Buy VSNL Future on declines @ 358-362 Target 390-398 SL 354
Buy Amtekauto Future on declines @ 334-338 Target 356-364 SL 330
Buy DRREDDY Future on declines @ 614-620 Target 648-658 SL 608

Stocks for Weekly:
Buy INDIACEM @ CMP Target 250+ SL 214
Buy CENTURYTEX @ CMP Target 780+ SL 730
Buy Sobha on declines @ 728 Target 764-815 (ST) SL 717
Buy HDFCBANK on declines @ 1085 Target 1133-1155(ST) SL 1070
Buy STER on declines @ 201 Target 215-218-228 SL 193
Buy AIAENG on declines @ 1289 Target 1353-1422 SL 1210

Intraday & Future Tips for 24-08-2007

NIFTY Strong Sup 4081-4026-4008 Res 4163-4173

Buy Arvindmills @ Above 43.75 Target 50+ SL 40

Buy SBIN 1440 CA @ Declines 25-28 Target 55-70 SL 15.50
Buy RCOM 480 CA @ Declines 13-15 Target 30-35 SL 9

Buy Hindalc0 Future @ Declines 134-137 Target 154-159 SL 131
Buy NATIONALUM Future @ Declines 246-249 Target 271-278 SL 243
Buy SAIL Future @ Declines 137-140 Target 151-156 SL 134
Buy TATASTEEL Future @ Declines 550-556 Target 609-618 SL 544

Intraday & Future Tips for 23-08-2007

Buy Century Textile @ 730-735 Target 760 SL 700-705
Buy KTKBANK @ 165-168 Target 179-185 SL 160
Buy ALEMBIC @ 66-68 Target 77-83 SL 61
Buy Bharatforge @ 263.40 Target 275-282 SL 256
Buy LT @ 2382.95 Target 2430-2485-2540 SL 2370
Buy ACC @ 953.15 Target 975-990-1004 SL 946
Buy Corpbank @ 302.35 Target 314-325 SL 290
Buy ITC Future @ 153-155 Target 164-168 SL 151
Buy MAHseamless Future@ 552-558 Target 585-594 SL 546
Buy ALBK Future @ 78-80 Target 89-92 SL 78
Buy CAIRN Future @ 137-139 Target 147-151 SL 135

Intraday & Future Tips for 21-08-2007

Buy RELCAPITAL @ 1050.70 Target 1075-1090-1115 SL 1020
Buy AMBUJACEM @ 127.80 Target 132-140 SL 124
Buy ICICIBANK @ 872.35 Target 890-908 SL 856
Buy HANUNGTOYS @ 142.35 Target 150-155-160 SL 132
Buy EIDPARRY @ 121.85 Target 130-138 SL 116
Buy TITAN @ 1128.75 Target 1166-1185 SL 1098
Buy GDL Future @ 120-123 Target 145-153 SL 117
Buy JSWSTEEL Future @ 565-575 Target 615-630 SL555
Buy RENUKA Future @ 495-500 Target 535-550 SL 490
Buy TITAN Future @ 1115-1125 Target 1185-1205 SL 1105

Intraday & Short Term Tips for 20-08-2007

Buy Nagarfert @ CMP Target 38-40 SL 27.50
Buy Jetairways @ 718 Target 756-780 SL 706
Buy HCLTechno @ 295-298 Target 324-331 SL 287
Buy AXISBANK Future @ 562-570 Target 595-607 SL 554
Buy ICICIBANK Future @ 814-822 Target 865-875 SL 806
Buy SYNDIBANK Future @ 70-72 Target 81-84 SL 68
Buy UNIONBANK Future @ 123-126 Target 145-150 SL 120

Weekly Tips 20-08-2007 to 25-08-2007

Buy NagarFert @ CMP Target 38-40 SL 27.50
Buy Indusindbk @ 52 Target 56-59-64
Buy Rolta @ above 426 Target 442-448
Buy Voltamp @ 972 Target 1032 SL 940
Buy SunilHitec @ 207 Target 240 SL 200
Buy MRPL @ 40.70 Target 44-60 SL 35
Buy NIFTY @ 4108 Target 4300-4350 SL 4025

Buy Bharti Aritel For Short Term

Bharti Airtel: Buy

The sharp decline in the broad markets over the past week offers a good opportunity to take exposures to the stock of Bharti Airtel – the market leader in the Indian mobile telephony market. Strong subscriber additions, substantial investments in capex and possible new revenue streams from overseas forays and businesses such as broadband and IPTV, suggest strong earnings growth prospects for the company over the next few years. The stock trades at about 32 times twelve months earnings, after declines linked to broad market weakness and lower-than-expected first quarter results. Investors can accumulate the stock at current levels as well as at any further declines.

Bharti Airtel continues to dominate the mobile telephony space in the country, with 1.9 million subscribers a month, at least half a million ahead of its nearest competitor. Bharti’s average revenue per user (ARPU), at Rs 390, is much higher than the national average of Rs 298, indicating a continued ability to command a premium over other operators. There also appears to be scope for offsetting any decline in ARPUs through value added services. The recent tariff hike effected by the company for SMS and local calls, may also help realisations.

Over $3-billion worth of capex rollout over the next few years, including components like next generation networks (NGN) and 3G-ready networks, will enable Bharti to service a rapidly increasing subscriber base and start 3G services, as and when policy clarity emerges. International calling cards, a thrust area, may also open up revenue streams with relatively higher margins. With the company winning licenses to deliver 2G as well as 3G services in Sri Lanka and committing $200 million towards expansion, Bharti appears well placed to position itself strongly in the Sri Lankan market, which has reasonable untapped potential.

Mobile telephony apart, Bharti’s Broadband and Telephone (landline) division has also been making headway, and garnering an ARPU of Rs 1,120, much higher than the national average. The impending rollout of new services such as IPTV (Internet protocol television), DTH (direct to home) may help revenues and margins. Key risks to the earnings outlook arise from any inordinate delay in release of 2G spectrum. A delay in the 3G policy announcement could mean loss of potential opportunity. Regulatory intervention on tariff increases and heightened competition in national and international long distance services, are risks as well.

Indowind Energy - IPO

Indowind Energy : Avoid

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The asking price appears ambitious when compared to the valuations of power generation companies.

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Investors can avoid the initial public offer of Indowind Energy, which generates wind power and develops, operates and maintains windmill projects for others. A stiff valuation, absence of a focussed business strategy and governance issues, negate the bright prospects that the wind power business otherwise holds.

At the offer price of Rs 55-65, the price-earnings multiple is at 30-36 times the company’s earnings for the year ended June 2007. Even after considering the company’s 9 MW expansion plan, the valuation is at about 35-40 times on the post-offer equity base. The asking price appears ambitious when compared to the valuations of power generation companies.

The premium enjoyed by Suzlon Energy arises out of its size, more integrated business (manufacturing equipment and developing wind farms) and global presence. We believe that Indowind Energy, with a relatively small turnover (of Rs 24 crore may be unable to deliver earnings commensurate with the valuation it is asking for.

Business and objects of issue

Indowind Wind Energy company has 16.8 MW of installed capacity, the power generated from which is sold to the Tamil Nadu Electricity Board and to some corporates in Karnataka.

The company has also developed 17.9 MW of wind farms for others which it also operates and maintains. Indowind Energy now plans to raise Rs 70-80 crore through this IPO. The proceeds are to be used primarily to set up a 9 MW wind plant in Karnataka, acquire second-hand wind energy generators (WEGs) and foreclose windmill operating leases with Axis Bank and ICICI Bank.

Lacking focus

Indowind Energy appears to lack a focussed business strategy. In the power generation business, it has not had a profitable deal either with the TNEB or with third-parties. While the sale rate with TNEB is lower than that offered by a few other State governments, the sale to corporate clients in Karnataka also appears to be less attractive as the wheeling charges for sale to third parties is higher in the State. Hence, the returns from the power generation segment appear lack-lustre compared to the projects segment.

Despite this experience, the company had again initially planned to set up the new 9 MW plant in Tamil Nadu but later decided to shift the same to Karnataka and sell power to the Bangalore Electricity Supply Company (BESCOM)

This not only resulted in delaying the project but also in the company withdrawing its public offer document on an earlier occasion. That the company is yet to enter into a power purchase agreement with BESCOM (as stated in the offer document) further suggests lack of a planned business approach.

The company has earmarked close to Rs 40 crore for acquiring second-hand WEGs that banks recover from defaulting clients. Windmills, in general, are subject to higher repairs and breakdown. The efficiency of the mills, especially the second-hand ones, remains doubtful, given that they would not have been used after the banks recovered them. This may result in reducing the plant load factor for the company, now at about 23 per cent.

As for foreclosing the operating leases with a couple of banks — neither the company nor the banks have initiated steps for such foreclosure. In this initial stage, it is unclear whether it would be a profitable proposition. The company’s projects division (developing and running wind farms), however, appears to have returned well. If the company is able to focus on this segment, earnings visibility may be higher. However, it may require more skilled manpower than the present 95 (of which 64 are contract labourers).

The company’s corporate promoter, Subuthi Finance (listed in the stock market), has a track record of non-compliance with certain listing requirements. It has also received notices from the RBI for certain irregularities.

Indowind itself has in the past derived a chunk of income from ‘other sources’. While this has gradually declined, the company has stated that it deploys surplus funds for providing loans and earns interest income. This as a poor and risky business practice. The above governance issues do not inspire confidence.

Offer details: The IPO is open from August 21-24. UTI Securities is the book running lead manager. The market capitalisation (on the price band) post listing would be Rs 270-320 crore.

Motilal Oswal - IPO

Motilal Oswal Financial Services: Invest at cut-off

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Though intensifying competition is a risk, the untapped potential and high scalability of the company’s businesses are a positive.

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Investors can subscribe to the book-built initial public offering from Motilal Oswal Financial Services being made in the price band of Rs 725-825. The company offers a quality exposure to the domestic equity broking and financial services market, which has impressive growth potential.

The asking price for the offer also appears reasonable in the light of the company’s growth prospects and valuations enjoyed by peers such as India Infoline and Geojit Financial Services. At an offer price of Rs 825, the company would be valued at a price-earnings multiple of about 30 times the trailing and 26 times the forward earnings (on a fully diluted equity base). The company’s market capitalisation at this price would be about Rs 2,300 crore.

However, this stock is suitable only for investors with a high-risk appetite. With a high dependence on equity broking, Motilal Oswal’s earnings are inherently cyclical and pegged to the fortunes of the equity markets. Recent global developments may lead to a contraction in valuations for financial services players, which will have a bearing on the response to and post-listing performance of this IPO.

Operations

Motilal Oswal Financial Services (MOFS) is a NBFC, deriving its revenues mainly from four subsidiaries that offer stock broking (retail and institutional), commodity broking, venture capital and investment banking services. MOFS’ consolidated operations generated a net profit of Rs.69.5 crore on revenues of Rs.379 crore in 2006-07.

The equity broking business is currently the key revenue driver, accounting for 89 per cent of consolidated revenues. Contributions from the investment banking and venture capital arms, which commenced operations in 2006, are as yet marginal. Proceeds from this offer are to be used mainly to offer margin financing facilities to retail clients, augment working capital needs and purchase office space.

Prospects

Earnings prospects for the wealth management/equity broking business hinge mainly on the level of trading activity in the stock markets and MOFS’ ability to garner a larger share of transaction volumes amidst competitive pressures. Due to its early mover advantage in the traditional broking business, Motilal Oswal has managed strong growth rates in the wealth management business over the past four years.

While transaction volumes routed through the company in the equities (cash) market have grown at an annualised 93 per cent between FY-03 and FY-07, volumes in the derivatives segment have grown at 235 per cent per annum. Assets managed by its portfolio management services have expanded at an annualised 114 per cent over this period.

Given the very low retail participation in equities in the Indian context, there exists significant potential for expansion in the size of the broking and wealth management pie.

However, the relentless pressure on brokerage commissions due to entry of competitors with deep pockets (read private banks and foreign firms) and the growing popularity of online trading, are key challenges to be managed by traditional brokerages. Motilal Oswal has made a relatively late start in the online trading business (with its www.mybroker.com initiative) and, today, has a smaller online presence than some of its peers.

However, a healthy ramp up in clients over the past year and a recent strategic alliance with SBI to offer online trading services to the bank’s clients hold promise for an expansion in its online presence. An expansion in margin funding, financed by this offer, could generate additional revenue streams by way of interest receipts.

MOFS’ research strengths (a 34-member equity/commodity analyst team) and its extensive geographical reach covering 1200 locations in 377 cities, which enables it to tap into under-serviced markets, are key advantages over some of the company’s peers in the listed space.

The potential for expansion in MOFS’ earnings from its non-broking businesses is also substantial. The company’s large retail (2.43 lakh clients as of March) and institutional (251) client base offer considerable opportunities for cross-selling of products and services.

Businesses such as portfolio management and advisory services and distribution of third-party mutual funds/insurance are highly scalable and offer scope for substantial earnings growth at relatively small additional investments in infrastructure.

Offer details: Motilal Oswal Financial Services is offering 29.8 lakh shares (face value of Rs 5) at a price band of Rs 725-825. Citigroup Global Markets is the lead manager to the offer.

FII selling drives Sensex down
Index recovers from 570-pt intra-day fall to close 216 points lower
For all the faith showed by domestic financial institutions and retail investors, the intensity with which the foreign institutional investors (FIIs) triggered sales in pivotals proved too much for the market to bear. And the result is a further 216 points decline in the Sensex, which closed at 14,141.52. At the NSE too, it was much the same story. The 50-stock Nifty index lost 1.69 per cent to close at 4,108.05.
Retail investors turned net buyers for another consecutive day to the tune of Rs 333.69 crore, when the BSE-30 Sensex recovered from the fall of over 570 points and dipped below the psychological-mark of 14,000. Domestic institutions were net buyers at Rs 1,944.48 crore, as per the provisional figures on NSE. Long-term investors and domestic institutions were quietly accumulating stocks at cheaper levels.
Rebound:
The rebound in the markets was attributed to short covering by investors as soon as the European markets opened positive. “The reason for the rebound was the good amount of short covering and buying interest from domestic institutions,” said Mr Ravindra Kasliwala, Head – Equity, Inventure Growth and Securities.
Earlier in the day, the Sensex opened down 48.84 points but took a huge dip as the Asian markets signalled extreme signs of nervousness with Nikkei falling over five per cent as yen strengthened considerably against the dollar. Other Asian markets continued to trade in the red on fears of the credit crisis in the US. FIIs were on a selling spree with their net money outflow at Rs 3,535.76 crore with huge sell off from hedge funds.
Dealers said, major selling came in from Japanese funds and the impact of the ‘yen carry trade’ has started trickling.
However, investors globally may have something to cheer about finally as the US Fed cut discount rates by 50 bps.
“Markets recovered on a technical rebound. The US Fed’s decision to cut interest rates and the European indices trading in the positive territory today may lead the markets to open on a good note on Monday,” said Ms Shahina Mukadam, Head – research, IDBI Capital Market Services Ltd. “The Fed has helped to make credit more accessible to smaller and medium banks,” she added.
Mr Amitabh Chakraborty, President – Equity, Religare said, “In the US, the Fed has surprised markets by cutting the discount rate by 50 bps, resulting in a rally in Dow and Nasdaq.” But it is also an indirect indication that the sub-prime credit problem is much deep-routed than previously anticipated, he added.
Metal stocks took a beating yet again; the BSE-Metal index was the biggest loser, dipping 4.74 per cent.
Source: Businessline.in

Intraday & Short Term Tips for 17-08-2007

Buy Aegis Logistics @ 146-149 Target 178/180 SL 138
Buy Triveni Engg @ 61-62 Target 68/75 SL 57
Buy CNXIT Future @ 4740-4780 Target 4980/5020 SL 4700
Buy INFOSYS Future @ 1875-1890 Target 1990/2020 SL 1860
Buy TCS Future @ 1070-1080 Target 1160/1180 SL 1060
Buy WIPRO Future @ 452-460 Target 494/506 SL 444

Intraday & Short Term for 16-08-2007

Buy Bongaigaon Ref @ on Declines 53.50-55.20 Target 59 Short Term Target 63 SL 51.70
Buy ONGC @ on Declines 842-853 Target 877 Short Term Target 890-905 SL 833
Sell ZEEL @ Above 310 Target 300/ 297/293 SL 316
Sell UTIBANK @ Above 597.50 Target 580/575/573 SL 600
Sell WIPRO @ Above 484 Target 465/458 SL 490
Sell IDBI @ Above 125 Target 117/115 SL 129

Short Term Tips

Buy L&T above 2400 sl 2379 tgt 2470/2500

Buy BHEL above 1700 SL 1660 tgt 1745/1800

Buy Rolta above 440 SL 434 tgt 456/465

Long positions may be taken on dips in all the above given scrips, the above all are likely to gain fresh momentum and may move to given targets. All the best.

Weekly Report

Opportunity to accumulate stocks:
Sub-prime woes in the US spread its wings into European markets giving the markets all over the world a jolt in the arm. Huge volatile movements in world markets across the globe rocked the financial system. Earlier in the week soothing remarks from US Fed had lifted the sentiment. Fed kept the rates steady at 5.25 per cent for a ninth consecutive time. The mayhem started after BNP Paribas, France’s biggest bank froze three of its asset-backed funds in the US on sub-prime concerns. Indian markets depicted a yo-yo movement on back of uncertainty to swing between 14,500 – 15,500 levels to finally close down by 270 points at 14,868 levels. While the Nifty moved between 4,500 – 4,200 levels to lose 68 points for the week closing at 4,333 levels. FII’s were net sellers amidst global sell-off, booking profits in emerging markets to sell equity worth Rs 1,450 for the last week. The F&O side on the other hand witnessed net inflows for the last week for Rs 900 crore. Domestic funds activity was on the lower side but was net buyers for Rs 450 crore. Crude prices moved lower on concerns of a slow down in demand from the US to move to $71 mark losing five per cent for the week. Crude prices could move between $70 – $74 mark. Global markets were hit by US mortgage markets, which continue to haunt world markets. Banks across the globe were forced to pump in huge amounts to avert a liquidity crisis. However, what was most surprising was that Dow and Nasdaq closed with weekly gains of over a percent while Asian, European and major markets across the world saw huge sell-offs. Shanghai was the only exception that closed up with gains of four per cent. Sectoral indices Sectoral indices on the Indian bourses took a hit on increased volatile movements. All, except the IT index closed in the red for the week. IT stocks bucked the negative trend following tightening of ECB norms, which could result in lesser inflows of dollars. Metals were the worst hit as prices on the LME took a hit on back of BNP crisis. Metal index lost four per cent. Sensex heavyweights depicted heavy volatile movements with most of them closing the week with losses. Cement stocks too bucked the negative trend to recover from earlier losses after reports suggested that cement offtake was on the higher side in the month of July 2007, which is supposed to be the slack month in the entire year. Mid-cap action Mid-caps and small-caps attracted some profit booking at start of week but seem to have weathered the storm that hit the world markets. In fact the small-cap index closed in the green over the previous week while the mid-cap index recovered from its lows to post-moderate losses. It seems that there has not been any major selling in the mid-cap front, which could be good news going forward. Mid-caps stocks have been leading stocks to move north when markets have been recovering and moving upwards. Leading financial institution stocks like IFCI, IDBI, IDFC have evicted lot of buying interest and have hardly lost ground from their respective peaks. With the large caps swinging like a yo-yo on uncertain conditions, mid-caps have found lot of buying support. Week ahead While global markets has taken a toll on most of the markets over the world, Indian markets seem to have weathered the global mayhem losing six per cent from its peak level at 15,868 despite the large swings. Mid-cap performance has been better and there has not a major unwinding of positions in the F&O. FII’s too have been marginal sellers unlike the May 2006 mayhem when they were heavy sellers. Markets have been gaining support at 4,200 mark for the Nifty Futures and 14,500-14,700 mark for the Sensex to rebound from lower levels, which could suggest that the worst could be over. Markets over the world have been reacting to news in the US financial markets and could see a further sell-off if more negative news continues to flow in. However, I strongly feel that the worst could be over at this level and this could be the best opportunity to accumulate stocks. Panics often offer the best opportunities to buy. Technically, markets could yet consolidate between 14,700 – 15,500 levels and move higher in coming weeks. Cement stocks like ACC and India Cement and banking stocks like SBI and IDBI look attractive buys at current levels. Stocks to watch GMR Infrastructure: I continue to be positive on this stock and a move above Rs 870-875 in the futures could take the stock higher to Rs 900 mark. Support exists at Rs 790-800 levels. United Spirits: The stock could be one of the star performers in coming days. Resistance stands at Rs 1,470-1,475 levels (futures) above that expect rocket like movement upwards to Rs 1,600 mark. Support exists at Rs 1,360-1,365 levels. ICICI Bank: This could be one of the last opportunity to accumulate this stock and any positive weekly closing could take the stock back to Rs 925-930 mark.
source: jaldimoney.com

Intraday & Future Tips for 10-08-2007

Sensex: Support at 14984-14925 Res at 15140-15190

Nifty: Support at 4310-4285 Res at 4400-4425

Buy BHARATFORGE on declines @ 270 Target 289-292 SL 266
Buy SCI on declines @ 195 Target 206-229 SL 189
Buy ICICIBANK on declines @ 870 Target 897-910 SL 865
Buy IDBI on declines @ 108-110 Target 122 SL 104
Buy BHEL on declines @ 1700 Target 1750-1768 SL 1690
Buy PARSVNATH Future on declines @ 330-334 Target 356-364 SL 326
Buy PATNICOMP Future on declines @ 415-420 Target 445-452 SL 410
Buy AMTEKAUTO Future on declines @ 368-372 Target 390-397 SL 364

Intraday & Future Tips for 09-08-2007

Buy LICHSGFIN @ 190.10 Target 195/204 SL 180
Buy SAIL @ 148.40 Target 151/155/162 SL 142
Buy RCOM @ 544.60 Target 551/560 SL 537
Buy INFOSYS @ 1967.25 Target 2020/2060 SL 1936
Buy IBREALESTATE @ 512-515 Target 538/550 SL502
Buy ORCHIDCHEM @ 211-212 Target 228/231 SL 205

Buy ICICIBANK Future @ 891.20 Target 910/935/940 SL 880
Buy AUROPHARMA Future @ 628-634 Target 662/672 SL 622
Buy CIPLA Future @ 183-186 Target 201/209 SL 180
Buy DRREDDY Future @ 627-632 Target 658/667 SL 622
Buy MATRIXLABS Future @ 233-236 Target 251/258 SL 230

Intraday & Future Tips for 08-08-2007

Buy CANARABANK @ 265-267 Target 272/277/280 SL 260
Buy REL @ 756-764 Target 798/816 SL 744
Buy IDBI @ 111-112 Target 117/122 SL 109
Buy NELCO @ 100-102 Target 115 SL 98
Buy NDTV @ 371-374 Target 384/393 SL 358
Buy ZEEL @ 308-312 Target 318-323 SL 305

Buy HCLTECH Future @ 288-292 Target 307/315 SL 284
Buy LUPIN Future @ 619-625 Target 649/661 SL 613
Buy NATIONALUM Future @ 235-238 Target 252/262 SL 232
Buy TATAMOTORS Future @ 650-656 Target 676/688 SL 644

Delivery picks

HIGH RISK TRADERS Buy SUNPHARMA in declines around 900-905 with a strict stop loss below at 891 in close for a pullback upto 935-942 in the coming trading sessions.

HIGH RISK TRADERS Buy BRFL in declines around 201 with a strict stop loss below 194.80 in close for a pullback upto 213-216 in the coming trading sessions.

BEAR trend for AIAENG Buy future on declines around 1370-1380 with a stop loss below 1350 in close for a conservative upper target of 1490 and an optimistic upper target of 1510 in the coming trading sessions.

BEAR trend for EKC Buy future on declines around 1010-1020 with a stop loss below 1000 in close for a conservative upper target of 1067 and an optimistic upper target of 1085 in the coming trading sessions.

BEAR trend for INDIAINFO Buy future on declines around 660-667 with a stop loss below 653 in close for a conservative upper target of 735 and an optimistic upper target of 746 in the coming trading sessions.

BEAR trend for ONGC Buy future on declines around 846-852 with a stop loss below 838 in close for a conservative upper target of 876 and an optimistic upper target of 886 in the coming trading sessions.

Good Luck

SHORT TERM DELIVERY PICKS

Buy CAIRN for a quick trade in the range of Rs.140-142 with a stop loss below Rs138 in close for a conservative upper target of Rs152 and an optimistic upper target of Rs157. Holding period can be 7-8 days.

Buy HINDALC0 @ Rs.158-161 with a stop loss below Rs.155 in close for a conservative upper target of Rs.174 and an optimistic upper target of Rs.181. Holding period can be 7-8 days.

Buy LUPIN @ Rs.630-634 with a stop loss below Rs.626 in close for a conservative upper target of Rs.656 and an optimistic upper target of Rs.668. Holding period can be 7-8 days.

Buy TCS for @ Rs.1080-1090 with a stop loss below Rs.1070 in close for a conservative upper target of Rs.1135 and an optimistic upper target of Rs.1155. Holding period can be 7-8 days.

Puravankara cuts IPO price band From 500-525 to 400-450

Real estate company Puravankara Projects has extended its initial public offering subscription period from August 3 to August 8 and reduced its price band from Rs 500- 525 to Rs 400-450 a share. The offer opened on July 31.

“The decision was taken in view of the volatility of the global and Indian markets and, with due respect to investor sentiment, who expressed a deep desire to invest in our company but also pointed out the market condition,” said Mr Ravi Ramu, Director, Puravankara. Apparently, poor response has forced the company to extend the IPO. Figures put out by the NSE as of 5 p.m. on Friday said the issue was subscribed 0.36 times (on both BSE and NSE). Total bids received were 76,26,010 and those at cut-off price were 30,33,200. This is not the first time that IPOs had to cut price and extend the offer period. When the market was witnessing adverse conditions in May-June 2006, issues such as Air Deccan, Abhishek Mills, Bluplast and Vigneshwara Exports were also forced to resort to similar measures.