NEWS UPDATE
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HOUSE VIEWS
* Tata Power : ICICI puts PERFORMER, Target Rs 1530*
* L&T : Emkay puts ACCUMULATE, Target Price Rs 4381
* Alstom Projects : Indiabulls Research puts HOLD
* KPR Mill : Religare puts BUY, Target price Rs 212
* Mercator Lines : Religare puts BUY, Target price Rs 117*
* Maruti Suzuki : Sharekhan puts BUY, Target price Rs 990
* Jai Balaji Industries : Almondz puts BUY, Target Rs 750
* Madras Cement : Sharekhan puts BUY, Target price Rs 4,800
* M&M : Prime Broking puts BUY, Target price Rs 1,072
* Gammon India : Finquest puts BUY, Target price Rs 685
* HDFC : Sharekhan maintains BUY, Target Rs 3,362
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NEWS FLASH
* Sensex closes flat, down 358 points from day's high
* Nifty closes down 18 pts, off 111 pts from day's high
* BSE Smallcap index down 2.8%, Midcap down 1.7%
* Parliamentary committee meeting on Feb 18
* AP Govt to cut sales tax on ATF from 33% to 4%
* Standing Comm on Fin ques IPO price fixing norms
* FIIs net sell Rs.498.06cr in equity Feb 12 (provisional)
* Cuts home, education loan rates by 25-50 bps
* Domestic MFs net sell Rs.570.8cr in equity Feb 11
* Punj Lloyd holds 25.1% stake in Pipavav Shipyard
* Pipavav bags order worth $1.06bn for bulk carriers
* Bags order to construct 26 Panamax bulk carriers
* Bags order from Golden Ocean, SETAF, AVGI Greece
* Sensex closes flat; down 350 pts from day's high
* VSNL dn 5%, TCS, M&M dn 4.%, REL, Bajaj, dn 3.5%
* BSE Bankex up 1.6%; Axis Bk up 6%, ICICI Bk up 2.7%
* Aegis down 10%, KS Oils, Silverline down over 9%
* Essar Oil, UCO Bk down 6.5%, Balrampur down 5%
* Nifty down over 120 pts from day's high
* BSE Smallcap and Midcap indices down over 2%
* VSNL dn 5.7%, TCS dn 4.3%, M&M & REL dn 3%
* Smallcap Ind closes down 2.9%, Midcap Ind down 1.7%
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ANALYST'S RECOMMENDATION
( 08-01-2008 )
L&T
Kapadia : I suggest the investor to buy more at the current level as we have entered a corrective phase. It has support at Rs 4,240 levels and once this level is breached, it can test Rs 4,600 levels. I also expect it to breach Rs 5,000 levels in few months.
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ISPAT IND.
MB Singh : I suggest the investor to hold the stock keeping in mind two crucial level-maintain stop loss at Rs 75 levels below which it can fall to Rs 50 levels and on the upside, if Rs 86 levels is breached, it can test Rs 110 levels.
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BAJAJ HINDUSTHAN >> Support around Rs 265, Moving in an uptrend
Tambe : I suggest the investor to sell this scrip as the trend is not changing since a long time. Though it is a well-managed company, the fundamentals are not strong and I don’t expect the counter to perform well.
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UNITECH
Mehta : I would suggest the investor to book profits as the entire real estate space is too expensive. If slowdown in this sector can happen in US, it can also happen in India.
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JET AIRWAYS >> Support : 950 Moving in an uptrend
Maloo : I recommend the investor to hold the stock as it is the peak season for the aviation industry and the business is really profitable. This particular counter has been moving up and I expect it to move up further.
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RAJESH EXPORTS >> Planning to acquire gold mines in Australia, Indonesia, South Africa
Maloo : I would advice the investor to hold the stock as it has consolidated in the last 3 months. I expect this particular counter to move higher from current levels.
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