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[finance]

Key benchmark indices are likely to open on a subdued note, weighed by
Wall Street's sharp losses Friday on news of a criminal probe
into Goldman Sachs' trading practices. Asian shares were lower, after
US stocks were stung by news of a criminal probe into Goldman
Sachs but trading was quiet overall with Japan and China closed for
public holidays. Meanwhile, HDFC will announce its Q4 result
today, 3 May 2010. The company's board will also consider stock-split
proposal.
According to data released by the NSE, in the last session, FIIs were
sellers of index futures to the tune of Rs 4.39 crore while
bought index options worth Rs 1,403.18 crore. They were net buyers of
stock futures to the tune of Rs 323.80 crore while sold stock
options worth Rs 39.47 crore.
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[finance]

Key benchmark indices are likely to open flat after a sell-off in the
previous session. Wall Street markets ended positive as the US
reported another rise in consumer spending and data pointed to a
further economic recovery. Asian stock markets traded higher as
strong US data drove confidence that the economic recovery is gaining
pace. Japan remains closed for the Golden Week holidays.

According to data released by the NSE, in the last session, FIIs were

sellers of index futures to the tune of Rs 985.09 crore while
bought index options worth Rs 1,707.23 crore. However, they were net
sellers of stock futures to the tune of Rs 392.30 crore while
bought stock options worth Rs 107.96 crore.

[finance]

Key benchmark indices are likely to gap-down open weighed by
persisting worries regarding European debt. Wall Street Stocks plunged
over two percent as fears spread that Europe's attempt to contain
Greece's debt crisis would fail. Asian stock markets is trading
sharply lower with stocks across various sectors tumbling down on
heavy selling on the back of a weak close on Wall Street overnight on
European debt concerns. However, Oil and metal shares will be under
selling pressure on setback in commodity prices on Tuesday.

According to data released by the NSE, in the last session, FIIs were

net sellers of index futures to the tune of Rs 738.83 crore, while
they bought index options worth Rs 1089.40 crore. They were net
sellers of stock futures to the tune of Rs 134.32 crore and bought
stock options worth Rs 18.43 crore

[finance]

RELIANCE INDUSTRIES LTD. – Downside Limited…..Court Verdict to decide
Upside Potential

RIL’s ongoing litigation with RNRL and NTPC for supply of 40 mmscmd
volumes of gas at US$2.34/mmbtu could have a major impact on its
valuation. The worst-case scenario for RIL would be if it would have
to supply RNRL gas at a price of US$2.34/mmbtu and also the Government
will continue to charge its levies at the price of $4.2/mmbtu, which
would be a double blow on the earnings of RIL. This would have a
negative impact of around 5-8% on RIL’s FY12 EPS. The stock has
corrected significantly (more than Rs. 100/share) post the speculation
over the outcome of the case. We thus believe the market participants
have already priced in the negative outcome and any correction beyond
the current level offers a strong investment opportunity.

If the Court verdict goes in favor of RIL, we give the Company a 1
year price target of Rs.1190/share. Any verdict against RIL, will make
our target price reduced by 10% to Rs.1070/share. However, we feel, at
a range of Rs.960-980, the stock offers a perfect long term buy.