Market Updates 20 May11
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Market Outlook »
Nifty may see support at 5,400-5,350.
Technically the market is still weak and should logically shed some
weight and as expected the market lost some points but taking care to
find support near our support of 5,400. Technically the market is
still weak but is capable of bouncing back and if not 5,348 would be
the next logical target.The support for the Nifty is at 5,400-5,348
andresistance at 5,470
Technical Calls »
Buy KPIT Cummins 161.00 target 170
Buy KSK Energy 112.00 target 120
Buy Cairn India 339.00 target 350
More
Momentum Calls »
Buy Bajajhold 755.00 Near term it may touch 775
Buy ITI 31.45 Near term it may touch 40
Buy Rajshreesugar 49.05 Near term it may touch 55
More
Investment »
Amara Raja Batteries Ltd
Stupendous volume growth in the UPS and two wheeler segment drives the
growth during FY11: Inspite of the challenging environment in the
telecom sector and tremendous pressure on the realization...
Investment »
Supreme Infrastructure India Ltd
Order Book remained robust at Rs 31.2 bn: In the quarter SIIL added Rs
4 bn of new orders resulting total order book at Rs 31.2 bn. This
includes Rs 7.13 bn of L1 orders. .......
Corporate Report »
HDIL
We believe HDIL’s expertise in slum rehabilitation, focus on Mumbai’s
strong demand and a relativelywell-capitalised balance sheet (0.3x D/E
in FY11E) are key strengths in the current environment ...
Analyst Corner »
Union Bank of India
We have cut our earnings estimates for FY12-13 by about 10%, largely
on the back of higherthan- expected normalised operating costs in
FY11. Further, the equity dilution in 4QFY11 has pulled down our EPS
forecastsfor the period. ..
Stock Watch
Housing Development Finance Corporation
HDFC has performed strongly on most of the operating parameters during
the quarter. Strong approval and disbursement growth, stable margins,
sizeable tradinggains and best in class asset quality were key
highlights from the broad numbers. It believes steady loan growth
outlook, market leader positioning, stable margins, well matched asset
liability duration and quality earnings growth visibility are key
value drivers for the stock. At the current market price (CMP) of Rs
662, the stock is trading at 5.6x FY12 core book value and 15.9x FY12
core earnings justifying consistence quality operating performance. It
maintains `Buy` ratingon the stock with price target of Rs 760
(earlier Rs 744)
Stock of the Week
Career Point
Education Company CPIL reported a jump 44% in PAT Q4FY11 net profit
rose by 37% and total income jumped 28%. CPIL is a provides tutorial
services to high school and post high school students for various
competitive entrance examinations including AIEEE, IIT-JEE and PMT.
Stock can be bought for evergreen field of education.
Hot Delivery Investment
Calls Reviews
Hercules Hoist given at 227 Achieved 239
TCS given at 1140 Achieved 1170
HDFC given at 630 Achieved 650
Shriram Trans given at 639 Achieved 685
Emami given at 407 Achieved 434
Shalimar Paints given at 407 Achieved 475
Bajaj Finserv given at 495 Achieved 528
Muthoot given at 133 Achieved 138
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