Market outlook 16-09-2010

US Markets closed positive.
Europe markets ended negative.
Asian markets are trading in mixed.
Expect Indian Markets to open flat to weak.
Nifty: (5870) Support 5840 and Resistance 5900.

INTRADAY BEEPS

BUY IDFC TARGET 205 SL 195;
BUY LIC HSG TARGET 1300 SL 1260;
BUY HCL TECH TARGET 435 SL 415;
BUY FIN TECH TARGET 1475 SL 1400;
BUY SOUTH BANK TARGET 215 SL 206;
BUY INDUSIND BANK TARGET 250 SL 237;
BUY GAIL TARGET 500 SL 480;
BUY MLL TARGET 59 SL 55;
BUY MAYTAS INFRA TARGET 220 SL 207;

STOCK BEEPS

-IndusInd Bank QIP open to raise USD 215-250 million;QIP priced at Rs 234/share
-Religare enters Sri Lankan market by acquiring Bartleet
-Astrazeneca Signs outlicensing deal with Intas Pharma
-Oil PSUs to up ATF prices by average of Rs 699/kL today
-RBI likely to express reservations in giving Jet Airways approval to raise funds via ECB
-Lanco Infra gives power equipment order to China’s Harbin at price of Rs 68.3 lakh/MW
-Prakash Ind to submit new mining plan for its Chotia coal block
-S Kumars raises USD 50 million via QIP, board had passed enabling resolution to raise upto USD 100 million
-JBF Ind to file documents for QIP soon
-Bharti Airtel to sell African tower to Bharti Infratel
-Mudra Lifestyle in talks with Korean Co E-Land group for stake saleT
-Ispat arm to set up Rs 300 crore plant – ET
-Reliance Broadcast acquires Line V of DMRC for a 5 year period
-Vijay Shanthi Builders ventured in to a MoU for Rs. 70 crore project at Chennai
-Ramky Infra IPO opens on September 21, closes on September 23
-Orient Green Power Co IPO opens on September 21, closes on September 24
-Electrosteel Steels IPO opens on September 21, closes on September 24
-Indosolar IPO subscribed 1.55x at closing; QIBs: 1.44x, NIIs: 1.3x and Retail: 1.81x
-Career Point Info IPO opens today, closes on September 21;Price band:Rs 295-310, issue size Rs 115 cr

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