Market Updates 09 May11

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Market Outlook »

 

Nifty to be rangebound hovering in range of 5400-5700 points.

We expects trade to be range-bound next week with Nifty hovering in the range of 5400 to 5700 points."Oil is the single-largest import item for India. So, oil prices cooling off is a big positive for India.However, the FIIs are selling. If it is a sign of smart money moving out of commodities

 

Technical Calls »

Buy BAJAJ CORP 118.4 stoploss 115 target 125

Buy EROS 148.15 stoploss 145 target 155

Buy MCLEOD RUSSEL 267 stoploss 262 target 275

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Momentum Calls »

Buy J. K. Tyre 91.90 Near term it may touch 100

Buy U-Flex 186.15 Near term it may touch 190

Buy Gitanjali Gems 263.85 Near term it may touch 270

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Investment »

Vivimed Labs 

It is preferred vendor for leading global manufacturers of Beauty Care products (like Hair care, skin care, sun care and oral care products) and Industrial care products (such as Anti-Microbial, anti-fouling agents 

 

Investment »

Crew Bros 

Its business model is based on manufacture and export of fashion accessories & home decoration products made from fabrics (24% of sales), belts (14%), fashion bags (28%), footwear (11%), wallets 

 

Corporate Report » 
Mundra Port & SEZ 

Mundra Port has announced its acquisition of Abbot Point port in Queensland port, Australia for a consideration of US$2bn. This acquisition would double the balance sheet size of the company, with a significant increase in leverage

 

 

Analyst Corner » 
Polaris Software Lab 

We see healthy revenue growth continuing (FY11-13F CAGR of 23%) as Intellect makes inroads into big-ticket deals. FY12 revenue guidance of 22% looks achievable, but we are more circumspect on margins staying flat.

 

Stock Watch

Kamanwala Housing Construction 

Kamanwala is constructing 5 towers residential project in Malad West .They are developing SRA project at Mahim. Kamanwala owns 125000 sq ft of land in Oshiwara area. They are soon starting with development of 35 acres of land in Hyderabad. Kamanwala holds huge land in Noida and Turbhe as well. With total land asset of more than Rs 10 billion, market is severely undervalued at 40 with marketcapital of Rs 550 million. Considering the zeroing of debt the company has undertaken, completion of its various projects and its land bank..

 

Calls Reviews

Sintex given at 182 Achieved 190 

Redington given at 82 Achieved 85 

Man Industries given at 93 Achieved 100 

Kiri Dyes given at 248 Achieved 261 

Apollo given at 67 Achieved 71 

JSL given at 87 Achieved 91 

Carol Info given at 163 Achieved 169 

Deccan Chronicle given at 73 Achieved 78 

Amrit Banaspati given at 216 Achieved 225 

India Card given at 103 Achieved 116 

SPML Infra given at 167 Achieved 176

 

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