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Monday, 31 December 2007

Stocks in FnO

Following is a list of top gainers and losers in the futures and options market in the NSE on the 28th December 2007 for the January series:

Top Gainers

AMTEKAUTO 425 443.9 425 432.6 41.62
HAVELLS 648 723 645 712.5 38.03
SHREECEM 1212.6 1389.5 1212.6 1347.2 33.91
JPHYDRO 128.5 140.2 128.5 138.2 29.73
ARVINDMILL 87.7 92.45 86.05 91.05 24.22
BAJAJAUTO 2687.5 2724.9 2626 2644.15 23.24
PURVA 430 446.75 430 437.85 22.52
MICO 5010 5250 4991 5195.45 22.23
REDINGTON 410 437.5 408.6 432.05 20.61
HINDOILEXP 168 172 164.7 165.2 18.81
APTECHT 395 428 395 415.45 17.95
EDELWEISS 1439 1568 1432 1550.8 14.89
HOTELEELA 67.4 73.95 67.4 72.8 14.83
SOBHA 887 933 887 928.45 14.77
PARSVNATH 425.2 474.7 424 465.4 14.72
UNIPHOS 348.5 355 348 351.9 14.27
CMC 1351.15 1460 1351.15 1412.65 13.99
ORCHIDCHEM 262.75 304.45 261 300.75 13.97
ISPATIND 81.25 83.3 80.75 82.05 13.95
INDHOTEL 156 164.6 156 160.7 13.82
BHARTIARTL 966 978.95 945.1 954.15 13.34
UNITECH 466.9 492 460 489.8 13.34
ONGC 1242 1254.9 1218 1233.45 13.05
MAHLIFE 849.95 877 845.55 862.2 12.84
TULIP 1127.4 1167 1115.5 1125.75 12.5
PANTALOONR 793.2 880 793.2 842 11.07
SUNTV 409.1 419.3 407.5 413.35 10.4
GLAXO 1050 1056.4 1033.5 1041.8 10.08

Top Losers

SCI 298 311 293.65 306.3 -7.71
ALOKTEXT 99.6 105.2 97.4 104.05 -4.29
ROLTA 701.85 723.8 696.1 717.7 -4.06
HINDZINC 776.15 829.8 765 825.85 -3.88
AXISBANK 963 988.9 963 981.55 -2.51
BPCL 474.5 483.7 460 474.75 -2.32
TITAN 1534 1565 1505 1556.75 -2.32
CHENNPETRO 412.5 431.9 412.5 428.95 -2.17

........................... Click here to read more!

Stocks in Equity

Movement of stocks in equity section in NSE on the 28th December 2007 is as follows:

Top Gainers

SymbolOpen PriceHigh PriceLow PriceLTPPrev Close% ChangeTotal
trd qty

Top Losers
SymbolOpen PriceHigh PriceLow PriceLTPPrev Close% ChangeTotal
trd qty

Top Gainers - Nifty
SymbolOpen PriceHigh PriceLow PriceLTPPrev Close% ChangeTotal
trd qty

Top Losers - Nifty
SymbolOpen PriceHigh PriceLow PriceLTPPrev Close% ChangeTotal
trd qty

Top Gainers - Junior Nifty
SymbolOpen PriceHigh PriceLow PriceLTPPrev Close% ChangeTotal
trd qty

Top Losers - Junior Nifty
SymbolOpen PriceHigh PriceLow PriceLTPPrev Close% ChangeTotal
trd qty

........................... Click here to read more!

FAG Bearings

‘Bearing’ good returns

FAG Bearing India is an attractive long-term investment in view of its strong financials and high levels of profitability consistently clocked by the company. Given the good long-term growth opportunities, impressive clientele, strong parent support and sustained high OPMs of over 20%, we expect FAG to record a CAGR growth of 12-14% in volumes over FY2007-09E, which will drive 14-16% growth in Revenues and Profits in the mentioned period. Further, high Return Ratios are also likely to keep FAG's Earnings multiple above 14x.

FAG Bearings India is a leading player in the Indian Bearing industry. FAG, Germany, has a 51% stake in the company. FAG India is a leading OEM supplier to the Automobile and Engineering industries, besides the Railways.

Strong support from Parent company: FAG India is a FAG Kugelfischer George Schaefer AG Group company. The parent manufactures bearings for automotive and industrial applications. FAG’s bearings have gained ready acceptance and recognition with its customers across the globe. FAG India is a preferred supplier of bearing systems to the world's leading manufacturers of cars and trucks like GM, Ford, Volkswagen, etc. Further, with these players looking at enhancing their presence in India and other countries, FAG enjoys an edge over peers to supply to these OEMs in India.

Industry outlook encouraging: Bearings are one of the major industrial products and in a matured economy the 'Index of Industrial Production' (IIP) acts as a good proxy for the Bearings industry. But, in a developing economy like India, with greater emphasis on mechanisation of the manufacturing process, demand for bearings tends to outperform industrial growth. Growth in the economy especially in the Capital Goods sector presents a strong outlook for the Bearings industry. Demand for bearings also has a strong co-relation to the growth in the Manufacturing sector, which is expected to continue on growth path andaugurs well for the Bearing industry.

The Automobile industry has also grown in double-digits of around 15% CAGR in the last five year. Bearing also has a direct co-relation with Auto industry growth, which is expected to grow reasonably at 10-12% CAGR over the next 4-5 years. This would again perk up Sales growth of the Bearings industry and players therein. The demand from Railways remained steady during the year. Therefore, we estimate FAG India's Net Sales and Net Profit to grow at a CAGR of around 14% over CY2007E-09E.

Capex to meet surging demand: FAG India has announced a •60mn (Rs350cr) expansion plan for its needle bearings to meet the substantial increase in demand in the Automobile sector. The company would reap the benefits of this expansion from CY2008. The company has been operating at over 100% capacity utilisation since the last five years. It has also steadily improved its fixed asset turnover ratio from 0.99 in CY2002 to 1.66 in CY2006. Going ahead, it expects to further improve this ratio by investing in additional capacity. Capex will be met through internal accruals. We believe the company will continue to operate at over 90% capacity utilisation over the next 3-4 years, as demand for bearings is expected to remain healthy. The company's focus on expanding capacity would result in an improvement in the cost of production and would also enable it to improve its marketshare.

Outlook and Valuation

At Rs692, the stock is quoting at 11x CY2009E. FAG's prospects are derived from demand arising in the Auto and Manufacturing industries. In the recent past, the Auto Industry valuation have been subdued, as Earnings have been under pressure due to the sluggish demand. However, going ahead, the industry cycle is expected to clock positive growth. Hence, we have assigned EV/EBITDA of 7.5x CY2009E and P/E multiple of 12.8x CY2009E Earnings for FAG India and have derived the Target Price of Rs801. In view of the current sharp run in the stock price, we advise investors to Accumulate and enter the stock at lower levels with a long-term perspective.

----- With due apologies and full credits to Angel Broking
........................... Click here to read more!

Finolex Industries

Gains in the ‘Pipe’line

Finolex Industries (Finolex) is the largest manufacturer of PolyVinyl Carbonate (PVC) pipes and the second largest PVC resin manufacturer in India. We expect the usage of PVC pipes to increase going ahead on the back of theheightened construction activity and increase in land irrigation in the country on account of the various government initiatives, which are targeted at improving land productivity. The construction-related investments in the country are expected to gather pace hereon wherein it is poised to increase from Rs2,150bn in the last two years (2005 to 2007) to over Rs3,000bn over the ensuing two years. Finolex is also in the process of setting up a captive power plant (CPP) to reduce its operating costs.

CPP to aid Margin expansion: The manufacture of PVC is a power intensive process. Finolex is in the process of setting up a 43MW CPP in Ratnagiri, Maharashtra. The CPP would be commissioned in two phases with the first phase of 22MW capacity getting on-stream by March 2008 and the second phase of 21MW getting commissioned by March 2009. Total capital expenditure for the plant is estimated at Rs200cr. This CPP would lower the company's manufacturing cost per tonne of PVC by approximately Rs600. It would help shore up the Operating Margins to 15.0% by FY2010 from 12.2% in FY2007. Further, excess power generated at the CPP would be sold to the state electricity board which will generate additional revenues for Finolex.

Capacity expansion to support Topline: Finolex currently has a capacity to manufacture 2,60,000 metric tonnes (MT) of PVC and 69,600MT of PVC pipes p.a. It is in the process of expanding its production capacity of PVC pipes to 1,00,000 p.a., which is expected to be commissioned by March 2008. Global demand for PVC-based products continues to be robust and domestic demand is in excess of the production capacity. The demand for PVC pipes and fittings has also registered substantial growth backed by a good monsoon and booming construction industry. Various initiatives by the government to increase the reach of irrigation and drinking water supplies are providing further boost to the demand for PVC pipes and fittings.

Windfall from sale of land at Pune: Finolex has about 80 acres of land at Pune, which has the potential for residential and commercial development. We estimate that Finolex would be able to realise Rs550-600cr from the sale of this land. These proceeds could be used to support the a company's capacity expansion plans. We have factored in the sale of land in our estimates at a conservative value of Rs500cr. Our Target Price includes Rs40/share from the sale of land.

Port could unlock value in the future: We believe that Finolex is also looking at Port development as a future business opportunity. Finolex currently has a captive jetty, which would be extended to outside players. Potential revenues could be up to Rs400cr per year. We have currently not factored in the business from the port in our estimates.

Outlook and Valuation
Finolex has excellent market potential in the PVC pipes space, which it is capitalising on by expanding its production capacity at an appropriate time. Finolex is also venturing into Power generation (with a CPP) along with the Port business, which would enhance its OPM’s substantially. The 14.5% holding in Finolex Cables is another embedded value in the company. This translates into approximately Rs250cr of investments, which translates into approximately Rs20 per share for Finolex Industries. We expect Finolex's Net Profit to grow at a CAGR of 26% on the back of a 20% CAGR growth in Net Sales over FY2007-10E coupled with Operating Profit Margins expansion from 12.2% in FY2007 to 15.0% in FY2010. We Initiate Coverage on the stock, with a Target Price of Rs158.

----- With due apologies and full credits to Angel Broking
........................... Click here to read more!

Stocks on Breakdown

Stocks on Breakdown after trading on 28th December 2007 are as follows :

NSE CodeClose% Ch2 day
5 day SWING20 day
PreviousMov. Av.RSIADX
DCM79.60-6.08%Buy > 90----ExitHold SL 5984968266335241

-----With due apologies and full credits to
........................... Click here to read more!

Sunday, 30 December 2007

Stocks on Breakout

Stocks on Breakout after trading on 28th December 2007 are as follows :

NSE CodeClose% Ch2 day
5 day SWING20 day
PreviousMov. Av.RSIADX
AARTIIND44.407.51%Buy SL 4044Buy SL 39Hold SL 2936423832756639
ABIRLANUVO1966.957.74%Hold SL 18151641Hold SL 1735Hold SL 15351735189017351640847527
ADORWELD271.053.34%Buy SL 255239Hold SL 250Hold SL 222240268252234786731
AKSHOPTFBR79.705.01%Hold SL 7164Hold SL 69Hold SL 5769766863887640

Buy > 10861000104910211023826119
ALLSEC150.606.21%Hold SL 139137Hold SL 135Hold SL 121126146134130927515
ASSAMCO51.655.09%Hold SL 4838Hold SL 44Hold SL 3344504336867743
ATFL223.7014.87%Hold SL 192----Buy > 229Hold SL 149184203192171867128
ATLANTA331.205.65%Buy SL 312331Buy SL 300Hold SL 246301324301273746537
AUTOIND230.2010.83%Hold SL 203174Hold SL 191Hold SL 155191213184180897737
AVENTIS1130.803.18%Hold SL 10351131Buy SL 990Buy SL 970980111710101014967927
AVTNPL142.604.35%Hold SL 130105Hold SL 123Hold SL 106123141133112696340

Buy > 9173898386806015
BAJAUTOFIN428.9514.07%Hold SL 370375Hold SL 353Hold SL 311353392359341938128
BALAMINES151.3510.47%Hold SL 130125Hold SL 125Hold SL 114125139133121826829
BALMLAWRIE646.804.31%Buy SL 595647Buy SL 595Hold SL 580595634626575655721
BANCOINDIA47.003.18%Hold SL 4229Hold SL 41Hold SL 3241463833827549
BATAINDIA255.603.15%Hold SL 242----Buy > 258Hold SL 216238255250236615619
BHARATRAS66.004.93%Buy SL 6064Hold SL 60Hold SL 5660636159696019
BIRLAPOWER62.454.61%Hold SL 5760Hold SL 52Hold SL 5252605756825918
BLUEDART714.659.53%Buy SL 642625Hold SL 620Hold SL 592620669642605897520
BSELINFRA91.607.45%Hold SL 7685Hold SL 73Hold SL 6873877669877533
CANBK311.053.01%Hold SL 299311Buy SL 291Hold SL 266276307298285676115
CELESTIAL61.955.00%Buy SL 5762Buy SL 53Hold SL 5253595755746213
CENTURYTEX1173.157.25%Buy SL 10851173Buy SL 1072Hold SL 10581058114911141077736213
CHENNPETRO423.954.09%Hold SL 401424Buy SL 387Hold SL 372372411416373665715
COMSYS36.7510.03%Hold SL 3223Hold SL 32Hold SL 2230343025857752
CREATIVEYE35.905.12%Hold SL 3436Buy SL 30Hold SL 2431353025787335
CREWBOS129.354.65%Hold SL 12085Hold SL 114Hold SL 90114126113100736633
CTE90.705.04%Hold SL 8262Hold SL 77Hold SL 6677887964877537
DENORA138.553.94%Hold SL 131134Hold SL 126Hold SL 118126138131124716319
DISHMAN342.406.90%Hold SL 311297Hold SL 311Hold SL 265311341301291756928
DLF1065.805.45%Hold SL 9981066Buy SL 951Hold SL 8749251050982931826813
DOLPHINOFF321.9513.04%Buy SL 275322Buy SL 256Hold SL 256256298291268876815
ESSDEE701.906.95%Hold SL 640702Buy SL 612Hold SL 573612680646646806522
EVERESTIND134.606.32%Hold SL 120106Hold SL 100Hold SL 100100130113106877516

Buy > 344314329325365784814
GARDENSILK98.153.04%Buy SL 9381Hold SL 91Hold SL 7691989082827151
GDL162.6515.11%Buy SL 140135Hold SL 139Hold SL 137140151148140786517
GLODYNE394.9020.01%Hold SL 270236Hold SL 247Hold SL 175250340254241958622

Buy > 550455498488506735514
GOLDIAM88.055.01%Buy SL 8069Hold SL 79Hold SL 6379867670787034
GUJAPOLLO367.259.69%Hold SL 331206Hold SL 310Hold SL 276285340307277958127
HCLTECH328.703.48%Hold SL 311326Hold SL 261Hold SL 261261325314307696122
HDIL1049.456.57%Hold SL 947714Hold SL 947Hold SL 7509231040908777867845
HIMACHLFUT44.605.06%Buy SL 4145Buy SL 38Hold SL 2738443731757244
HINDCOMPOS396.7516.76%Hold SL 320397Buy SL 307Hold SL 300307359339321856717
HITACHIHOM168.956.49%Buy SL 153144Hold SL 149Hold SL 140147164154143856921
HONAUT2376.803.32%Hold SL 22112370Hold SL 2005Hold SL 19401978234022132002716330
HOPFL281.106.96%Buy SL 260281Buy SL 254Hold SL 235254270263243786422
HOTELEELA71.557.19%Buy SL 6672Buy SL 64Hold SL 5762696658776524

Buy > 1050917986957959756014
IGARASHI114.1514.09%Hold SL 9693Hold SL 95Hold SL 83961089689897351
IILTD91.204.35%Hold SL 8567Hold SL 82Hold SL 6882917971817348
INDSWFTLTD44.605.69%Buy SL 4128Hold SL 40Hold SL 3037443832837755
INGERRAND404.156.61%Hold SL 371307Hold SL 350Hold SL 294351396361323827020
JINDALPOLY288.755.00%Buy SL 270251Hold SL 260Hold SL 235260283262250806928
JKPAPER54.504.51%Hold SL 5150Hold SL 49Hold SL 4449545045756841
JKTYRE172.557.61%Hold SL 146126Hold SL 141Hold SL 125141161145133928031
JPHYDRO136.057.46%Hold SL 12476Hold SL 123Hold SL 105123133122103827127
KINETICMOT39.253.15%Hold SL 3733Hold SL 35Hold SL 2937383533756733
KOHINOOR102.5520.01%Hold SL 7655Hold SL 69Hold SL 6266877161968858
KOPDRUGS23.655.11%Hold SL 2214Hold SL 21Hold SL 1521241916848052
KSCL326.505.00%Hold SL 290326Buy SL 290Hold SL 215290314313260696214
LGBROS43.4020.06%Hold SL 3326Hold SL 32Hold SL 2533363228928454
LIBERTSHOE141.705.08%Buy SL 134113Hold SL 130Hold SL 112130136129119786837
LITL845.355.73%Hold SL 785452Hold SL 726Hold SL 490725835693539807549
LOKESHMACH124.057.59%Buy SL 114124Buy SL 112Hold SL 9898121116109836721
MALWACOTT83.9014.38%Buy SL 7258Hold SL 71Hold SL 5371807363776818
MARALOVER26.8516.74%Hold SL 2218Hold SL 22Hold SL 1722252219807639
MAX270.553.40%Hold SL 253256Hold SL 242Hold SL 225235262245245826523
MICO5106.653.04%Buy > 5150----Buy > 5150Hold SL 45554677500049534658735938
MIRCELECTR35.607.72%Hold SL 3133Hold SL 28Hold SL 2729333126857128
MIRZAINT33.708.53%Buy SL 3022Hold SL 30Hold SL 2130332823736940
MONNETISPA569.457.54%Hold SL 514400Hold SL 465Hold SL 395465556464418878045
MONSANTO1936.4520.00%Hold SL 16051936Buy SL 1540Hold SL 14551530174015761523887830
MSKPROJ163.054.86%Hold SL 148156Hold SL 132Hold SL 118132156140128847222
MSPL73.855.05%Hold SL 6870Hold SL 62Hold SL 6262716760816526
MUNJALSHOW60.1015.58%Hold SL 5041Hold SL 48Hold SL 4446545145907617
NAHARINDUS161.007.87%Hold SL 148108Hold SL 143Hold SL 85143152122108878047
NELCO155.157.52%Buy SL 141129Hold SL 138Hold SL 120138154136121756644
NISSAN64.405.06%Hold SL 5946Hold SL 53Hold SL 3953635244857950
NITINSPIN22.0520.16%Buy SL 1813Hold SL 18Hold SL 1318201714847538
OCL333.104.04%Buy SL 307333Buy SL 298Hold SL 266298323309268836845
OMAXE574.004.19%Buy > 579310Hold SL 531Hold SL 400507565516403676948
OPTOCIRCUI484.703.82%Hold SL 451455Hold SL 401Buy SL 390390474446434816623
ORCHIDCHEM295.5515.04%Hold SL 253296Buy SL 242Hold SL 236236269256241907426
PANTALOONR825.056.67%Hold SL 755569Hold SL 655Hold SL 617649820694651867523
PARACABLES42.307.50%Hold SL 3933Hold SL 38Hold SL 3038423632787048
PARSVNATH458.558.16%Hold SL 413332Hold SL 372Hold SL 342370443394359847226
PATELENG926.259.64%Buy SL 830830Hold SL 805Hold SL 710805905835773787021

Buy > 824725767732695807138
PRISMCEM76.806.52%Hold SL 7059Hold SL 59Buy SL 5959726562806931
PSTL531.7019.23%Hold SL 438372Hold SL 364Hold SL 331364455390337988838
QUINTEGRA144.704.70%Hold SL 132103Hold SL 121Hold SL 90125138120109867429
RAJTV213.704.81%Hold SL 202214Buy SL 193Hold SL 183193213205197745927
REVATHI1390.403.36%Buy SL 13301390Buy SL 1270Hold SL 12401240136013621082676239

Buy > 9984898581796447
ROHITFERRO99.4510.01%Hold SL 8639Hold SL 86Hold SL 7883958672907847
RPGLS117.7014.11%Hold SL 9898Hold SL 97Hold SL 91981129796958337
RSYSTEMS132.6519.72%Buy SL 110133Buy SL 102Hold SL 879811510493958337
RUBYMILLS1527.755.00%Buy SL 13751423Hold SL 1361Hold SL 11701361149015051440665616
RUCHIRA24.655.12%Hold SL 2216Hold SL 21Hold SL 1622242017918249
SAHPETRO24.555.14%Buy SL 2317Hold SL 21Hold SL 1721242218787033
SAKUMA41.905.01%Hold SL 3614Hold SL 36Hold SL 1536422820868770
SAPL29.755.12%Hold SL 2819Hold SL 27Hold SL 2126302622817141
SATHAISPAT80.357.49%Hold SL 7055Hold SL 63Hold SL 4663766051867841
SELAN183.754.94%Hold SL 167184Buy SL 161Hold SL 161161178176170765915
SICAL300.108.12%Hold SL 265266Hold SL 230Buy SL 217230287246234857333
SIGROUPIND49.155.02%Hold SL 4449Buy SL 44Hold SL 4344484644716135
SIL106.204.99%Hold SL 9666Hold SL 93Hold SL 62951068571797647
SKMEGGPROD21.554.61%Buy SL 2018Hold SL 19Hold SL 1619221918756742
SOFTTECHGR33.305.05%Hold SL 3227Hold SL 26Hold SL 2026322722847651
SPIC35.105.09%Hold SL 3225Hold SL 32Hold SL 2629343027897953
SUPERSPIN23.954.13%Buy SL 2020Hold SL 17Hold SL 1717232018766842
SURAJDIAMN88.2016.21%Buy SL 7564Hold SL 73Hold SL 6473847364907954
SURYALAXMI53.754.67%Buy SL 4735Hold SL 47Hold SL 4248534943736625

Buy > 337295319303291716329
SYNDIBANK114.903.33%Hold SL 109105Hold SL 105Hold SL 9496114111100696014

Buy > 176160168164155696220
TEXMACOLTD1703.554.98%Buy SL 16001704Buy SL 1550Hold SL 14811550167216511551735916
TORNTPOWER190.006.06%Buy SL 174182Hold SL 168Hold SL 162162188174172836417
UNITECH483.103.84%Buy SL 453382Hold SL 452Hold SL 332447479443395807022
UNITY1042.6014.88%Hold SL 850838Hold SL 782Hold SL 664760937820721948433
UTTAMSTL71.9010.02%Hold SL 6463Hold SL 62Hold SL 5361686253958026
VAIBHAVGEM189.659.59%Hold SL 161173Hold SL 161Buy SL 157165175167168947436
VALECHAENG300.353.50%Hold SL 273231Hold SL 263Hold SL 255263296268259917618
VDOCONAPPL46.8510.11%Hold SL 4027Hold SL 38Hold SL 2738434132817129
VICEROY128.7012.01%Buy SL 114----Buy > 132Hold SL 859511910996817025
VIKASHMET37.854.70%Hold SL 3532Hold SL 34Hold SL 2734383528807029
WEBELSOLAR605.3513.68%Hold SL 480605Buy SL 480Hold SL 460480533514483847049
WEIZMANIND69.305.00%Hold SL 6666Hold SL 57Hold SL 5357686152786827
WINSOMYARN23.5520.15%Buy SL 1914Hold SL 19Hold SL 1519211916847548
XLTL572.153.06%Hold SL 530555Hold SL 462Hold SL 380462568481357797658
ZODIACLOTH618.508.80%Hold SL 563458Hold SL 529Hold SL 450529580532475887840
ZODJRDMKJ40.506.16%Buy SL 37----Buy > 41Hold SL 3037403833696235

-----With due apologies and full credits to
........................... Click here to read more!

Disclaimer : Recommendations or suggestions given here are totally free. Care has been taken to give correct advice / information / recommendations / suggestions /tips. We take no guarantee that the mentioned analysis will work to your benefit. Since we are involved in the market, we take pleasure in giving the best for the benifit of all. We have interest in the market and may or may not have positions in some or all of the stocks that are mentioned. We do not have any clients as such. These views are purely personal. We do not take any responsibility in any profits or losses that any one incurs as a result of these views / suggestions / recommendations / advice / tip /etc. Please do your own due diligence before initiating any trades as a result of this information.