List of Companies where Public Shareholding is below 25%

Sr. No.	Symbol	Name of the Company	Public Holding (%)
1	ALFALAVAL	Alfa Laval India Ltd	23.27
2	ASAL	Automotive Stampings and Assemblies Limited	18.64
3	BATLIBOI	Batliboi Limited	19.40
4	BOSCHCHASY	Bosch Chassis Systems India Ltd.	20.00
5	CENTURYPLY	Century Plyboards (India) Limited	10.85
6	CHESLINTEX	Cheslind Textiles Ltd	24.61
7	EMAMILTD	Emami Limited	12.16
8	ENNOREFO	Ennore Foundries Limited	19.89
9	HOTELRUGBY	Hotel Rugby Ltd.	24.67
10	ITDCEM	ITD Cementation India Limited	19.52
11	JCTELEC	JCT Electronics Ltd.	3.38
12	JINDRILL	Jindal Drilling And Industries Limited	16.52
13	LOTTEINDIA	Lotte India Corporation Limited	19.61
14	MALCO	The Madras Aluminium Co Ltd	20.00
15	NIPPOBATRY	Nippo Batteries Co. Limited	15.60
16	NRBBEARING	NRB Bearing Limited	23.91
17	PAVCI	Panasonic AVC Networks India Co. Limited.	17.26
18	SEAMECLTD	SEAMEC Limited	21.76
19	SIGROUPIND	SI Group - India Limited	16.79
20	TIMKEN	Timken India Limited	19.98
21	WENDT	Wendt (India) Ltd.	20.26

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Essar Steel Limited - Delisting

Members of the Exchange are hereby informed that the trading in the equity shares of Essar Steel Limited shall be suspended w.e.f. December 7, 2007 (i.e. w.e.f. closing hours of trading on December 6, 2007) on account of voluntary delisting pursuant to the SEBI (Delisting of Securities) Guidelines, 2003. The admission to dealings in securities of the said company shall be withdrawn (delisted) w.e.f. December 14, 2007. ........................... Click here to read more!

Godrej Consumer Products Limited

Godrej Consumer Products Limited has informed the Exchange that at the meeting of the Board of Directors of the Company held today i.e. on November 23, 2007, the Board has approved the issue of further equity shares by way of rights, upto a maximum amount of Rs. 400 crore. The detailed structure and other terms of the Rights issue shall be decided by the Right issue committee of the Board at a subsequent point of time. ........................... Click here to read more!

Nifty Intra Day Data

The data is in two different formats. Choose the one that you like. Data can be used for technical analysis softwares of amibroker or metastock or advanced get or what ever .....

Minute Data for Nifty Spot only for Friday 23 November 2007 :

csv format with headers ----->>>>>
date,time,open,high,low,close
in compressed format from the below link
http://rapidshare.com/files/71724713/intraday.rar.html

csv format with headers ----->>>>>
ticker,date,time,open,high,low,close,volume,openint
in compressed format from the below link
http://rapidshare.com/files/71725254/intraday.rar.html

Minute Data for Nifty Spot until Friday 23rd November 2007 :
csv format with headers ----->>>>>
date,time,open,high,low,close
in compressed format from the below link
http://rapidshare.com/files/71723313/nifty.rar.html

csv format with headers ----->>>>>
ticker,date,time,open,high,low,close,volume,openint
in compressed format from the below link
http://rapidshare.com/files/71724070/nifty.rar.html
........................... Click here to read more!

Report ----- for Friday 23rd

Outlook for the day

The coming trading session is expected to trade with positive bias. Nifty witnessed short covering / buying from level of 5400 which may continue for the coming trading session. On the upside, Nifty may test 5570 – 5600 levels, further it may test 5630 – 5660 levels. The immediate support is at 5540 – 5500 levels. Short term investors are advised to exit on rally. The trend is likely to change if Nifty closes above 5680 – 5700 levels accompanied with higher volumes.

ICICI Bank - View - Positive Bias

The stock witnessed buying near to multiple support levels on Daily chart with rising volumes. This suggests that further upside is likely in the coming trading sessions if it trades above Rs. 1157.00 level. Stop-loss*: Rs.1148.30 Tgt: Rs. 1184.00

Derivative Comments

Open interest in Nifty futures has increased by 1.10% whereas the Nifty price has declined by 0.75% from 5561.05 to 5519.35.

• Nifty PCR-OI has dropped further from 0.97 levels to 0.94 levels.
• Nifty is once again trading at a premium. The current premium in Nifty is 16.85 points and the CoC is positive 15.92%.
• Nifty Futures annual volatility has risen from 43.02% to 41.71%.
• The maximum decline in OI was seen in the Aviation sector. AIRDECCAN which had earlier seen huge formation of positions has now observed significant unwinding.
• Stocks currently trading at a significant premium are BHUSANSTL, RPL, JINDALSTEL, SESAGOA and CUMMINSIND.

Derivative Views

• Amongst all options we have seen the most addition of OI in the 5600 strike price Call. The 5700 strike price Call which had previously added good OI is now showing unwinding of positions. In the Put option segment a fall in OI was witnessed in almost all strike prices.
• In yesterday’s session, though Nifty touched a low of 5400, it managed to close above the crucial level of 5500. The 5500 strike price still has the largest base amongst all Put options which indicates that, though there has been unwinding of positions; this level may continue to act as a support for Nifty on closing basis in today’s session as well.
• Once again most sectors have shown a decline in OI which indicates that the stocks are falling on account of long unwinding rather than formation of short positions. However, we have seen formation of short positions in Nifty. Today being the last trading session of the week participants could be wary of carrying these positions due to the prevailing volatility. Hence, we may see some short covering which could restrict the losses for the day.

Dealers Diary

The Market breadth was extremely weak on Thursday. The markets opened weak and traded in negative territory through major part of the day. However, in late trades towards close, the markets bounced back with the Banking and Auto stocks recovering major losses. Realty, Capital Goods and Power stocks were major losers yesterday. The markets ended with moderate losses. The Mid-Cap and Small-Cap indices underperformed the Sensex. Asian markets were mixed while the European markets traded in red. Among the frontliners, Maruti Suzuki, Bajaj Auto, ICICI Bank, ACC and SBI gained 2-4%, while ONGC, L&T, NTPC, Reliance Energy and DLF lost ground by 4-5%. In the Mid-cap segment, Redington, Bhushan Steel, Balaji Telefilms, EIH and Nucleus Software gained 5-9%, whereas Zee News, Atlas Copco, Anant Raj, Ispat and Wire & Wireless lost 7-8%.

Markets Today

The trend deciding level for the day is 5507 / 18485. If the NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally upto 5621-5722/18786-19046. However, if the NIFTY trades below 5507 / 18485 for the first half-an-hour of trade then it may correct upto 5406/18225.

Tata Chemicals - Initiate Coverage with Buy and Target Price of Rs387

Tata Chemicals (TCL) is a one of the leading players in inorganic chemicals and the largest soda ash player in India. With the Brunner Mond acquisition, it has now become the third largest soda ash player in the world with over 3.0mt capacity. Rising demand for soda ash and strong prices of the commodity thereof coupled with backward integration into phosphoric acid (through 33% stake in IMACID) augurs well for TCL going ahead. TCL has earmarked over Rs500cr capex to meet the rising demand for soda ash. We believe that going ahead a favourable business environment and capacity additions will sustain the company’s Earnings momentum. At the CMP of Rs303, the stock is available at 10.9x consolidated FY2008E EPS of Rs27.8 and 9.0x consolidated FY2009E EPS of Rs33.6. We Initiate Coverage on the stock with a Buy recommendation and Target Price of Rs387.

PVR to invest Rs400cr in 250 screens

Multiplex chain operator, PVR, plans to invest up to Rs400cr over the next three years to set up 250 screens across the country. The expansion would be funded through a mixture of debt, equity and internal accruals. Thecompany launched its premium multiplex brand, called ‘PVR Premiere’, which is targeted at consumers in metros. PVR aims to have 30-40 screens under this brand by 2010. PVR Premiere is projected to account for 15-20%of the company’s revenues. Six properties have been selected in Mumbai, Bangalore, Gurgaon and Kolkata for the new concept. The subsidiary PVR Pictures, which is into film production, would look for funding at the subsidiary level and the company in the future. At the CMP of Rs199, the stock trades at 12.4x FY2009E EPS of Rs16. We recommend a Hold on the stock, with a Target Price of Rs225.

-----With due apologies and full credits to Angel Broking Limited

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Stocks in FnO

Following is a list of top gainers and losers in the futures and options market in the NSE on the 22nd November 2007 for the November series:

Top Gainers
					% CHANGE
SYMBOL	OPEN	HIGH	LOW	CLOSE	IN O.I.
BHUSANSTL	1042.9	1099	1029	1078.85	24.25
SIEMENS	1988	1988	1802.15	1932.15	8.1
DLF	875	893.3	805	828.05	6.83
RELCAPITAL	2208	2358	2140	2337.25	2.87
PURVA	415	445	384	395.95	2.81
INDIANB	160	160	145	153.15	2.16
HTMTGLOBAL	480	492	455	463	1.83
EKC	313.1	336.3	295.05	324	1.7
GMRINFRA	225	238	218.1	235.35	1.45
Top Losers
					% CHANGE
SYMBOL	OPEN	HIGH	LOW	CLOSE	IN O.I.
NUCLEUS	311	338.9	297.5	317.7	-28.54
IOB	144.1	147.2	136.2	141.05	-22.81
ESSAROIL	184.5	187.7	160.1	174.65	-19.5
VIJAYABANK	74.25	76.75	69.25	75.3	-18.94
ANDHRABANK	97	99	92.3	97.8	-18.65
BANKBARODA	358	368	341.15	361.2	-17.46
JSWSTEEL	913.3	931	881.05	910.65	-17.17
AIRDECCAN	187	196.9	171.5	177.65	-16.57
BILT	154.1	164	149.3	161.55	-15.94
SRF	162	165.5	147.55	153.55	-14.61
ALBK	108.5	114	106.05	110.15	-14.58
PNB	549	603.4	543.15	581.6	-14.37
M&M	698	715	685	708.15	-13.84
SAIL	248	252.4	235	247	-13
YESBANK	225.2	237.8	219.5	230.75	-12.9
SKUMARSYNF	148.5	153.3	141.55	148.3	-12.83
TATACHEM	300.05	303.9	288.6	299.7	-12.79
GESHIP	471	482	436	450.35	-12.74
SUZLON	1940	1940	1775	1848	-12.71
SUNPHARMA	1050	1101	1045	1078.9	-12.2
PANTALOONR	655.2	655.2	626	639.3	-10.89
HINDPETRO	277	289.9	271.5	287.25	-10.78
ABAN	4840	4840	4300.1	4524.75	-10.61
SBIN	2179.9	2309	2135	2251.75	-10.5
CENTRALBK	127.55	129.5	121.5	127	-10.49
NICOLASPIR	338.9	365	290.2	307.5	-10.42
WELGUJ	383.3	391	340.1	373.3	-10.36

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Mutual Fund and FII Activity

FII trading activity on NSE and BSE on Capital Market Segment

FII trading activity on NSE and BSE on Capital Market Segment

The following is combined FII trading data across NSE and BSE collated on the basis of trades executed by FIIs on 22-Nov-2007.

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
FII	22-Nov-2007	1889.01	4376.72	-2487.71

Domestic Institutional Investors trading activity on NSE and BSE on Capital Market Segment

The following is combined Domestic Institutional Investors trading data across NSE and BSE collated on the basis of trades executed by Banks, DFIs, Insurance and MFs on 22-Nov-2007.

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category	Date	Buy Value	Sell Value	Net Value
DII	22-Nov-2007	2241.49	900.34	1341.15

Trends in Transactions on Stock Exchanges by Mutual Funds (as on 21-NOV-2007)

Trading Date Debt/Equity Gross Purchases(Rs Crores) Gross Sales(Rs Crores) Net Investment (Rs Crores) 21-NOV-2007 Equity 640.70 791.80 (151.10) Debt 615.30 1581.90 (966.60) The above report is compiled on the basis of reports submitted to SEBI by custodians on 21-NOV-2007 and constitutes trades conducted by Mutual Funds.

Daily Trends in FII Investments on 22-NOV-2007

Reporting Date Debt/Equity Gross Purchases(Rs Crores) Gross Sales(Rs Crores) Net Investment (Rs Crores) Net Investment US($) million at month exchange rate 22-NOV-2007 Equity 3246.60 5469.00 (2222.40) (550.90) Debt 0.00 242.70 (242.70) (60.20) The above report is compiled on the basis of reports submitted to SEBI by custodians on 22-NOV-2007 and constitutes trades conducted by FIIs on and upto the previous trading day(s).

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Nifty Intra Day Data

Data updated for nifty spot until Thursday 22nd November 2007. The data is in two different formats. Choose the one that you like. Data can be used for technical analysis softwares of amibroker or metastock or advanced get or what ever .....

csv format with headers ----->>>>>
date,time,open,high,low,close
in compressed format from the below link
http://rapidshare.com/files/71617723/nifty.rar.html


csv format with headers ----->>>>>
ticker,date,time,open,high,low,close,volume,openint
in compressed format from the below link
http://rapidshare.com/files/71618071/nifty.rar.html
........................... Click here to read more!

Mundra Application Status

http://www.intimespectrum.com:8080/IPO/jsp/IPOdetails.jsp
http://www.intimespectrum.com/site/ipo.asp

Sites not working


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Vishal Exports Overseas Limited - results

NSE Symbol	VISHALEXPO
Result Period	01-JUL-2007 to 30-SEP-2007 (Others)
Result Type	Unaudited, Non-Cumulative, Non-Consolidated

Financial Results (Rs.lakhs)
Net Sales/Income from Operations	530.09
Other Income	9.32
Total Income	539.41
Increase/Decrease in Stock in trade and work in progress	-
Consumption of Raw Materials	70.21
Purchase of traded goods	-
Employees Cost	13.97
Depreciation	195.67
Other Expenditure	9840.63
Total Expenditure	10120.48
Interest	237.18
Exceptional items	-
Profit(+)/Loss(-) from Ordinary Activities before tax	-9818.25
Tax Expense	-
Net Profit(+)/Loss(-) from Ordinary Activities after tax	-9818.25
Extraordinary Items	-
Net Profit (+) / Loss (-) for the period	-9818.25
Dividend (%)	-
Face Value (in Rs.)	1.00
Paid-up Equity Share Capital	3600.00
Reserves excluding Revaluation Reserves	-
Basic EPS before Extraordinary items (in Rs.)	-2.73
Diluted EPS before Extraordinary items (in Rs.)	-2.73
Basic EPS after Extraordinary items (in Rs.)	-2.73
Diluted EPS after Extraordinary items (in Rs.)	-2.73
Public Shareholding (Number of Shares)	311999895.00
Public Shareholding (%)	86.67

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Report ----- for Monday 19th

Economic Times - Bull's Eye (an article in the supplement) puts up stock recommendations. Following are the same for Monday 19th:

Moser Baer / Ranbaxy / Gitanjali Gems / Maruti / ABG Shipyard / Indraprastha Gas

The details are as follows :---
MOSER BAER
RESEARCH:JP MORGAN
RATING: UNDERWEIGHT
CMP:Rs 274.70

JP MORGAN rates Moser Baer as ‘underweight’. Moser Baer reported muted Q2 FY08 results with 5% QoQ decline in revenue and 70 bps drop in EBITDA margins. This was despite the fact that Moser benefited from a refund of duties in Europe, excluding which, sales declined 8% QoQ and EBITDA margins fell 3% QoQ. Optical media volumes fell 8% QoQ with 8% QoQ decline in average selling price (ASP). Overall, net profit fell 66% QoQ to Rs 3.3 crore. The management expects a volume pickup in H2 FY08, but expects subdued pricing especially in DVDR as Philips has cancelled licenses for major optical media manufacturers. JP Morgan expects margins to remain weak. During the quarter, the photovoltaic (PV) business generated revenues of $12 million with net level breakeven. The management expects PV revenues of $80-100 million and margins may improve through the year, stabilising at ~20%. By adding the entertainment business to the estimates, JP Morgan expects decent 80+% volume CAGR over the next 2-3 years with sharp margin improvement. However, Moser will take at least three years to recover its initial investment of $100 million.

RANBAXY LABORATORIES
RESEARCH:MERRILL LYNCH
RATING:BUY
CMP:Rs 411.70

MERRILL Lynch maintains ‘buy’ rating on Ranbaxy Labs. Last week, the company announced it has settled the patent infringement suit with Astellas/Boehringer Ingelheim on generic Flomax, which allows launch of the generic in March ’10 with 180-day exclusivity. Merrill Lynch views this development as a significant positive and estimates over $200 million revenues and $120 million one-off profits during the six-month period. This implies Rs 20 NPV per share, assuming limited 40% discount, delayed authorised generic entry and 50% market share for Ranbaxy. The company expects to continue pursuing this strategy of monetising on its pipeline of first-to file (FTF) opportunities. Based on this, Merrill Lynch sees visibility on several FTF launches for the next three years. These include: (a) Possible Para IV launch/settlement in ’08 (not yet announced); (b) Generic Valtrex in ’09 (Rs 18-20 NPV); and (c) Generic Lipitor in the US in ’10 (Rs 30-35 NPV). Merrill Lynch estimates robust core earnings growth of 40.5% in CY07E and 20.5% in CY08E (Rs 22.7), driven by higher growth and EBITDA margins from the US and emerging markets. There is possibility of 30%+ EPS upside in CY08E from generic Lipitor launch in Canada and possible R&D milestones from GSK.

GITANJALI GEMS
RESEARCH:MORGAN STANLEY
RATING:OVERWEIGHT
CMP:Rs 375.30

MORGAN Stanley initiates coverage on Gitanjali Gems with an ‘overweight’ rating. The company is a pioneer in branded jewellery and is leveraging its brand equity to drive growth in the retail market. On excluding the value of the company’s real estate business from its CMP, standalone jewellery valuation looks cheap at 9x FY09E earnings, given 80%+ growth (FY06-07) in branded jewellery. The company is set to benefit from a shift in consumer buying patterns towards branded and diamond jewellery. Morgan Stanley expects jewellery retail and exports to grow by 46% and 40%, respectively, at the top line and by 78% and 43%, respectively, at the operating profit level over FY07-FY10. The company is likely to deliver 51% growth in earnings during FY07-10. Morgan Stanley values the jewellery business at Rs 417/share and the real estate business at Rs 130/share.

MARUTI SUZUKI
RESEARCH:CLSA
RATING:BUY
CMP:Rs 1,049.45

CLSA assigns ‘buy’ rating on Maruti Suzuki. The company believes the domestic car market will continue to see strong secular growth in coming years at ~15% CAGR and will hit 2 million units by ’10. Maruti will launch two new compact segment cars in Q3 FY09. These will include the recently unveiled small car ‘Splash’ and a new small car called ‘A Star’. The ‘A Star’ has been designed for the export markets. 50,000 units of the ‘A Star’ will be contract manufactured for Nissan, while another 100,000 units will be exported to Europe under the Suzuki badge. ‘A Star’ will also be launched in India. These launches, together with the expected launch of the ‘Swift’ sedan, will drive volume growth for Maruti in FY09-10. With this, Maruti’s export volumes will hit 200,000 units in FY10 from 55,000 units in FY08. However, margins on these exports will be lower than existing export margins. Maruti aims to transform itself into a complete pan-segment car manufacturer in coming years and new launches in future will reflect this. Maruti and Suzuki plan to invest $2.2 billion to increase capacities over the next three years. Diesel engine capacity, as well as capacity at the second car plant, will increase to 300,000 units each by ’10. Maruti also plans to set up a new engine plant and upgrade its Gurgaon facilities.

ABG SHIPYARD
RESEARCH:CITIGROUP
RATING:BUY
CMP:Rs 807.65

CITIGROUP maintains ‘buy’ rating on ABG Shipyard, aided by an order book cover of 6.7x FY08E sales and 59% FY08-10E EPS CAGR. It has increased the company’s price target primarily on the back of changes to margin estimates after better-than-expected margin performance in the past two quarters. ABG reported strong EBITDA (ex-subsidy) margins of 23% each in Q1 and Q2. While margins may not be sustainable at such high levels, Citigroup believes that its earlier 17-18% margin assumptions over FY08-10E were conservative, given that a combination of new orders at higher prices and operational efficiencies may result in sustained margin improvement from historical levels (18% in FY07). This reflects Citigroup’s new operating margin (ex-subsidy) assumptions of 21-22%, which the company is expected to achieve over the forecast horizon, though unexpected raw material (primarily steel) price increases pose a risk to these estimates.

INDRAPRASTHA GAS
RESEARCH:ABN AMRO
RATING:BUY
CMP:Rs 154.60

INDRAPRASTHA Gas (IGL) is a joint venture of Gail, BPCL and the government of the National Capital Territory (NCT) of Delhi. Over the years, IGL has set up 153 CNG stations, including 67 mother stations, 42 online stations, 38 daughter booster stations and six daughter stations. IGL supplies piped natural gas (PNG) to homes and commercial/industrial establishments such as hotels, hospitals, embassies, restaurants etc. As on March ’07, IGL had provided PNG connections to over 75,000 domestic and 300 commercial customers. The company also supplies regasified liquefied natural gas (R-LNG) to industrial consumers in NCT. During FY07, the company’s net sales grew by 17% YoY to Rs 614 crore and net profit increased by 30% YoY to Rs 138 crore. In H1 FY08, IGL’s net sales grew by 16% YoY to Rs 336 crore, while net profit grew 30% YoY to Rs 81.3 crore. Demand for CNG is expected to rise with introduction of CNG-based cars and LCVs, besides incremental demand generated from new users such as the Northern Railways and introduction of radio taxis & high capacity buses for the Commonwealth Games. Hike in fuel prices will lead to more consumers converting their vehicles to CNG. Innovations such as ‘Mobile CNG Dispensing Schemes’ along highways will also encourage CNG conversions.

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Report ----- For Monday 19th

It's Time To Stay Invested

In the recent times, often in Flash News we have compared the Indian Stock market ride with the new cricket format, Twenty20. Speed and the rapid turn of events characterize the two. And we have been proved right in using such terms to describe the way the market behaves. Look at the way things happen in the market now. We think that currently the corrections in the market are looking like a hapless Twenty20 bowler asking to be hit out of the ground. Like the Twenty20 bowler, the role of corrections in the market is limited and even the spells are shorter. The Sensex galloped 893 points in a single day on Wednesday (November 14, 2007) to wipe off the latest correction in the market. This is the highest ever absolute one day gain in the history of the market. In 2007, investors got many opportunities to enter the market but very few were able to take advantage of the same. But in one of our Flash News issues, we distinctively mentioned that every fall in the market should be taken as an opportunity. Now that is the past and the market is driven by future factors. Perhaps now every investor may be thinking of what lies ahead. We feel, although, we are once again at the levels near to the all-time high, there is little to be worried. There is good amount of liquidity in the market and hence, there are no reasons for the market to go down in a hurry. But one thing is clear, higher the liquidity higher is the volatility in the market and therefore expect a great deal of volatility in the near future.

The reason for liquidity to stay longer is simple. The liquidity is coming as international investors are reducing their exposure to the Dollar based assets and are investing in the emerging markets. And with India expected to grow at more than eight per cent, it has become a favorite destination to park funds. Further, the Rupee appreciation has created a natural hedge for foreign investors, which made Indian markets safer than the other markets. In addition, money is also coming from new destinations like Middle East apart from traditional markets like the US and Europe. We are not the only ones to claim that liquidity will stay for long. Many analysts in the market have stated that liquidity in the market is not going to fry up at least in the next one year. The main reason for the increase in liquidity was the US Fed rate cut. Many fund managers feel that the US Fed will make another rate cut in December and this will be followed by many such cuts in 2008.

In addition to the above factors, even the market regulator SEBI is making cautious efforts to increase the liquidity. And the same can be seen from the fact that SEBI is planning to come out with new derivative products, which will increase the liquidity further. SEBI is taking cautious approach to make the contract size smaller, which will actually result in more number of market participants. And secondly, it is also planning to increase the tenure of options from three months to six months. Both these changes are being made to improve liquidity.

There is some good news for exporters. In a cabinet note on an incentive package for exporters likely to be taken up within a fortnight, the department has proposed that the government should reimburse exporters all service taxes paid by them. This could offer some sort of comfort to exporters who have been facing the brunt of the appreciating Rupee for some time.

On the economic front, inflation seems to be under desired levels. The government has said that it has no immediate plans to increase the price of petroleum products and hence inflation is not expected to increase in a hurry.

Regarding the markets, there is no negative news on the global front and not even on the domestic front. With good amount of liquidity and with the entire fundamentals right in the place, we feel that there is further upside to the market. Going ahead, the strength of the market will be questioned, but the advance decline data for last week shows that there is good amount of demand for large-cap and mid-cap counters. Hence, the rally will be wide spread. We advise investors to stay invested at the current level.

Recommendations

Graphite India Face Value - Rs 2 Buy Rs 73.30

Ticker: 509488 Equity: Rs 29.38 crore H/L: Rs 79.90/47.25

• Graphite India (GIL) manufactures graphite electrodes for the electric arc furnaces, which are used in steel manufacturing. Today with a combined capacity of 33,000 MT per annum spread over three plants at Durgapur, Bangalore and Nashik, GIL boasts of possessing the largest pool of technical personnel in graphite technologies.
• Backward integration in the manufacturing chain by investments in a hydel power plant of 18 MW capacity and a 25,000 MT petroleum coke calcining facility have contributed towards maintaining tight quality control and achieve cost effective operations. GIL now exports around 65 per cent of its production overseas with a customer base of over 150 in 50 countries.
• The financial performance of the company has been strong and it has been successful to increase its topline and bottomline for three successive years. Even the H1FY08 results have been good with a topline of Rs 505 crore and bottomline of Rs 70.79 crore. With good demand for steel, GIL is expected to post good results in next two quarters and hence investors can buy the scrip at current levels.
• On the valuation front, the CMP of Rs 76.05 discounts its FY07 earnings by 5.76x. With better results expected in the next two quarters, we think the scrip has scope for further upward movement.

LECS Face Value - Rs 10 Buy Rs 487.15

Ticker: 504258 Equity: Rs 2.46 crore H/L: Rs 547.95/236

• Lakshmi Electrical Control Systems (LECS) manufactures LV switchgear, which is used in large numbers in the building of control panels. The company has been able to access the know-how from the renowned Sprecher Schuh, Switzerland. As for the products, it manufactures low voltage switchgears, motor protection and control devices and various other automation devices and elements.
• The reason to recommend the scrip is because of its strong financial performance in the last five years. It has been able to increase the topline as well as the bottomline for last five years. In addition, the company has also managed to maintain the margins at higher levels.
• Even the H1FY08 results have been good, where the company posted a topline of Rs 42.75 crore and bottomline of Rs 5.21 crore as compared to Rs 32.40 crore and Rs 3.84 crore for H1FY07. LECS managed to improve its margins by more than 400 basis points.
• On the valuation front, the CMP of Rs 501 discounts its FY07 earnings by 10.49x, but with better expected results in H2FY08, we feel the scrip has further room for upward movement.

Kalpataru Power Trans. Face Value - Rs 10 Buy Rs 1880

Ticker : 522287 Equity: Rs 26.50 crore H/L:Rs 1959/880

• Kalpataru Power Transmission (KPTL) has presence across the infrastructure sector, which has a very high potential for growth in India. The company has a large order backlog to take revenues to new heights. With burgeoning infrastructure industry, especially power and construction, KPTL has an order book of Rs 5400 crore, i,e, 3.4x FY07 sales. Out of the total order backlog, Rs 2100 crore is of JMC projects.
• We estimate net sales to be around Rs 2761 crore in FY08, 73 per cent growth (Y-o-Y). Going forward, in FY09 net sales is likely to grow by 27 per cent over that of FY08, to touch Rs 3497 crore.
• KPTL has enjoyed superior margins compared to its peers due to better efficiency, scale and diversification, which we expect will continue in future. We expect EBITDA margin of KPTL to be around 16 per cent, against 17 per cent of the previous year. This is due to integration of JMC projects from FY2008, which enjoys relatively lower margin. However, the company still appears to be undervalued at the current level and hence investors can go for the scrip with a time horizon of two years.

Dividends declared in last few days

Company Name Per cent XDividend Date

Deepak Spinners 5

Mahalaxmi Seamless 5

Garware Marine Industries 5

Crazy Infotech 5

Greaves Cotton 20

Prime Securities 30

Manugraph India 100

Television Eighteen India 25

Shree Precoated Steels 11

Nods Worldwide 350 15/11/2007

Dollex Industries 5 15/11/2007

Elgi Equipments 60 15/11/2007

Taparia Tools 20 7/11/2007

Kilitch Drugs(I) 10 15/11/2007

Khoday India 10

United Spirits 10 20/11/2007

Sagar Cements 15 15/11/2007

Shakti Pumps (India) 10

GMM Pfaudler 35 15/11/2007

Patels Airtemp (India) 5 16/11/2007

SB&T International 5

ISMT 20 15/11/2007

FIEM Industries 25

Kingfisher Properties & Holdings 10 22/11/2007

Monsanto India 120 14/11/2007

KSB Pumps 20 8/11/2007

Lakshmi Machine Works 200 20/11/2007

Nile 20 15/11/2007

Avaya GlobalConnect 67.5

Nicco Parks & Resorts 12

JK Paper 22.5

Tamil Nadu Newsprint And Papers 20 12/11/2007

Jagran Prakashan 50 15/11/2007

Natco Pharma 12.5 12/11/2007

MRF 30 7/11/2007

Nitco Tiles 20

Alfa Laval (India) 100 13/11/2007

Apollo Sindhoori Capital Investment 40 6/11/2007

Glenmark Pharmaceuticals 70 7/11/2007

Porritts & Spencer (Asia) 30

Anjani Synthetics 5

IG Petrochemicals 5 7/11/2007

Hindustan Unilever 300 7/11/2007

Greenply Industries 30 19/11/2007

Ingersoll-Rand (India) 30 7/11/2007

Satyam Computer Services 50 7/11/2007

Indoco Remedies 65

Skyline Millars 10 6/11/2007

DLF 100 5/11/2007

Parsoli Corporation 5 7/11/2007

Kewal Kiran Clothing 20 5/11/2007

Hindustan Zinc 25 8/11/2007

Orient Paper & Industries 50 7/11/2007

Varun Shipping Company 15 5/11/2007

Apar Industries 15 7/11/2007

Sundaram Clayton 70 2/11/2007

Crompton Greaves 20 2/11/2007

Splits declared in last few days

Company Name Ratio* XSplit Date

Anant Raj Industries 10:02 8-Oct-07

B L Kashyap & Sons 10:05

Banco Products 10:02

Birla Kennametal 10:02 26/10/2007

Cinevistaas 10:02

Compucom Software 10:02 8-Oct-07

Gulf Oil Corporation 10:05 26/10/2007

Jai Prakash Associates 10:02

Lancor Holding 10:02

Lloyds Metals & Engineers 10:02 19-Oct-07

Maharashtra Seamless 5:02 9-Oct-07

Peninsula Land 10:02 16/10/2007

Rajesh Exports 2:01

Subros 10:02

West Coast Paper Mills 10:02 26-Oct-07

(*10:2 means old FV Rs 10 & New FV of Rs 2)

Bonus declared in last few days

Company Name Ratio XBonus Date

Anjani Synthetics 1:01

Ashiana Housing & Finance (India) 5:02

Axon Infotech 3:01 15-Nov-07

Brady & Morris Engg Co 1:02

CNI Research 1:02 5-Nov-07

Company Name XBonus Date

Freshtrop Fruits 1:01

Jai Corp 1:01 5-Oct-07

Kanoria Chemicals & Industries 1:02

Mediaone Global Entertainment 5:01

Parenteral Drugs (India) 1:01 2-Nov-07

Rajesh Exports 2:01

Rolta India 1:01

Satra Properties (India) 2:01

State Trading Corporation Of India 1:01

Ushdev International 1:01

W H Brady & Company 1:02

3:1 means, 3 bonus shares for one share held

TECHNICALS

outlook remains bullish

The Sensex seems to have once again ended its corrective phase but keeping in mind the higher base (since it is at an all-time high, there aren't any known resistance levels), the volatility could continue to be a inherent part of the movements and doesn't seem to be in a mood to go away in a hurry. It has also taken support on its trading range between 18300 on the downside and 20200 on the upside indicating a further upside - the outlook continues to remain bullish. The Sensex has posted a fresh all time high while some resistance can be expected from the 20200 level for the time being.

Trend (Index): Up Last Index Closing: 19929.06

Support: 19621, 19276 Resistance: 20000, 20200

55-WEEK EMA: 15002.93 100-WEEK EMA: 13229.66

MACD: BUY MODE RMI: BUY MODE

ROC: BUY MODE RSI: BUY MODE

STOCHASTIC: SELL MODE

W.H. Brady Buy Rs 198.95

1st Target: Rs 219 2nd Target: Rs 227 Stoploss: Rs 176

W.H. Brady bottomed out by posting an intra-day low of Rs 67.10 on 11.07.06, moved upwards for quite a few trading sessions while continuous resistance came in the form of the 70 level (congestion area) and continuous support came in the form of the 55-day EMA. The scrip finally posted an intra-day low of Rs 67.50 on 10.08.06 and these levels have not been seen very often since then. W.H. Brady commenced a short-term uptrend from here (there was enough clarity on the medium-term front), struggled but overcame the 55-day EMA, posted a series of progressively higher tops and bottoms, started moving within the confines of an upward slopping channel, almost gave a throwover from this channel and finally peaked at an intra-day high of Rs 203.85 on 16.01.07. The scrip almost gave a downward key reversal from here, couldn't sustain these levels for long, entered a corrective phase, declined to post an intra-day low of Rs 102.60 on 13.06.07, rebounded smartly from here, posted a good but unsustainable rally to post a high of Rs 137 on 03.07.07 only for the scrip to enter a sharp correction. Currently, W.H. Brady seems to be on the verge of entering a short term uptrend (could commence a medium-term uptrend), has overcome the 55-day EMA and with the oscillators looking positive indicating the possibility of a further upside from here.

Trading Pointers

Indicators: MACD-Buy RMI-Buy Stochastic-Buy ROC-Buy RSI-Buy

Support: 176, 145 Resistance: 211, 229

BSE code: 501391 55-day EMA: 165.19

Bhartiya IntERNATIONAL Buy Rs 124

1st Target: Rs 148 2nd Target: Rs 157 Stoploss: Rs 109

Bhartiya International peaked by posting an intra-day high of Rs 178 on 18.09.06, but couldn't sustain these levels for long and finally declined to bottom out by posting an intra-day low of Rs 125 on 21.10.06 where strong support prevented further downside. The scrip finally posted an intra-day low of Rs 130.20 on 11.12.06 and these levels have rarely been seen since. Bhartiya International commenced a short-term uptrend from here (this time around there wasn't enough clarity on the medium-term front), struggled but eventually overcame the 55-day EMA, posted a series of progressively higher tops and bottoms, started moving within the confines of an upward slopping channel, almost gave a throwover from this channel and finally peaked by posting an intra-day high of Rs 229 on 31.01.07. The scrip almost gave a downward key reversal from here, couldn't sustain these levels for long, entered a corrective downmove, declined to post an intra-day low of Rs 75 on 06.08.07, recovered sharply from here, posted a smart but slightly unsustainable upmove to post a high of Rs 162.45 on 29.09.07. Currently, Bhartiya International is in the midst of commencing a medium-term uptrend, while it seems to have exhausted its weekly downmove (has recently overcome the 55-day EMA) and with the mechanical indicators looking positive, a further upside from these levels cannot be ruled out.

Trading Pointers

Indicators: MACD-Buy RMI-Sell Stochastic-Buy ROC-Buy RSI-Buy

Support: 113, 094 Resistance: 129,162

BSE code: 526666 55-day EMA:115.21

Street Talk

Buy now

Investors can buy the scrip of Dredgeing Corporation (BSE code: 523618) trading at Rs 1348.25. One of the dealers from a leading broking house is bullish on the counter. Investors can enter the scrip with a long-term prospective.

Momentum call

Siemens (BSE code: 500550) trading at Rs 1936.35 is expected to get into momentum. Investors can go for the scrip with a medium-term perspective.

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