Share Market Review

The market surged in late trading building on the recovery from lower level which it had witnessed in mid-afternoon trade. The market had slipped into the red in afternoon trade from an early surge after the industrial production data for November 2007 fell short of market expectations. The data hit the market in early afternoon trade today. Reliance Industries (RIL) surged. IT stocks were mixed after Infosys posted better than expected Q3 December 2007 results before trading hours. Banking, Oil & gas and realty stocks gained. Capital goods and consumer durables stocks declined. The market breadth was weak. BSE Mid-Cap and Small-Cap indices underperformed Sensex. European markets which opened after Indian markets were mixed. Asian markets which opened before Indian market were weak today.


Infosys has raised both earnings and revenue guidance for the year ending March 2008 (FY 2008). The company has forecast 18.6% growth in EPS in FY 2008 as per Indian GAAP at Rs 79.30. It has forecast a between 19.7% to 19.9% growth in revenue in FY 2008 as per Indian GAAP to between Rs 16627 crore to Rs 16657 crore.


As per US GAAP, the company has forecast 33.8% growth in consolidated earning per American depository share in FY 2008 at $1.98. The company has forecast a between 35%to 35.2% growth in revenue as per US GAAP in FY 2008 to between $4.17 billion to $4.18 billion.

Share Market: Daily Top 5 GAINERS & LOSERS

Post By Rajesh AVR

Stock News: Videocon Industries

Consumer electronic maker Videocon Industries, said it will set up thermal power projects aggregating 5,000 MW in Gujarat, West Bengal and Chhattisgarh along with an international player.

The company said it would foray into the sector by setting up a 1,600 MW imported coal-based power plant in Gujarat and has invited bids from global EPC contractors for this purpose.

"Videocon Industries through its SPV, Pipavava Energy Pvt Ltd has decided to set up 2x800 MW imported coal-based super critical thermal power project near Pipavav port in Gujarat," the company said in an advertisement.

Contractors for the project, to be implemented on a single turnkey basis, would be selected through international competitive bidding, it added.

The last date for submission of bids is June 9, 2008. Videocon Industries is a $5 billion group with presence in energy, oil and gas and coal mining verticals.

Stock News: Rajesh Exports Ltd

Rajesh Exports Ltd has informed the BSE that the members at the Extra Ordinary General Meeting (EGM) held on December 15 have approved the increase in authorised share capital of the company to Rs 30 crore and sub-division of equity shares of Rs 2 each to Re 1 each and also issue of two bonus shares for every one share held by the shareholders.

Rajesh Exports Ltd.(RAJESHEXPO) has announced a record date on February 05, 2008 for the purpose of ‘Face Value Split of shares from Rs.2 per share to Re.1 per share’. Accordingly, the ‘No-delivery period’ has been set up by NSCCL in the Normal Regular Market from January 29, 2008 to February 4, 2008 and the in-delivery settlement no. will be N-2008026. The first demat pay-in after the record date is scheduled for February 7, 2008.

Post By Tanpure

Stock News: Jindal Steel & Power

Steel maker Jindal Steel and Power (JSPL) on Friday said it has fixed January 28, 2008 as the record date for splitting its stocks in the ratio of 1:5.

Consequently, the shares of the company of Rs 5 each would be sub-divided into five shares of Re 1 each, it said in a filing to the Bombay Stock Exchange.

The firm said it had received approval from the shareholders for the stock split on Thursday.

Share Market Updates

The Bombay Stock Exchange benchmark Sensex Thursday fell by 288 points on heavy selling by funds mainly in metal and capital goods stocks.

The Sensex, which zoomed to record an intra-day high of 21,206 points, fell back sharply to close at 20,582.08, a hefty fall of 287.70. The key-index also touched the day’s low of 20,530.07 points.

Similarly, the second wide-based National Stock Exchange’s Nifty fell by 115.05 points at 6,156.95, after touching the day’s low of 6,142.90 and a high of 6,347 points.
Major pullers to the Sensex were metal index that fell by loosing 653.58 at 18,770.14 and capital goods index by 409.28 points at 19,666.06. PSU index also lost 337.34 points at 10,381.09.

Realty index dropped by 296.66 points at 13,270.05, oil and gas index by 288.20 points at 13,528.94, consumer durable index by 248.21 points at 6,347.79, healthcare index by 119.73 points at 4,153.32 and power index by 117.80 points at 4,700.63.
A steep fall of 511.32 points in smallcap index to 12,858.63 and of 329.54 points in midcap index to 9,440.45 were the trigger behind the selling.

* GSM service providers added 5.72 million subscribers, increasing the total number of users to 171.8 million as on December 31, 2007. This is a 3.43% increase from the 166.1 million users that the operators had as on November 30, 2007.

* ICICI Bank will list at least four of its subsidiaries, starting with its brokerage arm ICICI Securities, and the process would commence within six months, Managing Director and Chief Executive Officer K V Kamath said.

* Ispat Industries has decided to offload around 25% stake in its wholly-owned subsidiary Ispat Energy, to private equity (PE) funds to raise around Rs 800 crore.

Intraday Trading Tips For 11.01.2008

Buy Punj Lloyd abv 531,T1 536 T2 541 SL 528

Short Sell SAIL below 257 T1 248 T2 240 SL 264