Union Budget FY 2010 -11 - Highlights

-----> Weekly outlook 27/02/2010 -----> The event risk is now out of the way and what a pleasant surprise for the market. The key indices rose sharply on Friday after being range bound for most part of the week following positive feelers from the budget. Investors cheered the governments move to rein in the fiscal deficit as it announced a partial rollback of some of the stimulus measures. Finally, the benchmark Sensex added 1.5% and NSE Nifty added 1.6% over the week. The coming holiday-shortened week will see investors trying taking a closer look at the budget announcements and assessing whether the targets mentioned are achievable. Auto companies like Maruti have already announced a hike in prices of cars. The monthly numbers of auto and cement companies...

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Union Budget FY 2010 -11 - Highlights 26/02/10

— Net revenue gain from tax proposals at Rs 20,500 crore — Certain accredited news agencies exempted from service tax — Service tax to remain 10 per cent — Increase in duty on gold and silver import — Clean energy cess of Rs 50 per tonne to be levied on coal produced in India — 10 per cent central excise duty on all non-petroleum products — Structural changes in excise duties on cigarettes, cigars and cigarillos. — Revenue loss of Rs 26,000 crore on direct tax proposals. — 7.5 per cent duty on petrol, diesel, crude restored. — Exempt duty raised for all non-smoking tobacco producs — Investment linked tax deductions to be allowed to two—star hotels anywhere in the country. — Fiscal deficit seen at 4.8 per cent and 4.1 per cent in 2011—12 and 2012—13...

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Weekly outlook 21/02/2010

Weekly outlook 21/02/2010Without doubt, next week will be action-packed for the Indian markets.Apart from Railway Budget, Economic Survey and Union Budget, we will also have to grapple with the F&O expiry and of course Q3 GDP figures.To add to the anxiety would be newsflow from the external front, which of late has been exerting quite an influence on the overall market sentiment. Talking of global markets, China will resume trading after a long holiday. The surprise hike in reserve ratio just before the holiday started and the Fed move to raise the discount rate could weigh on that market. Not much data is expected from China next week.On the other hand, a lot of economic reports are due from the US next week, including a spate of data on housing and revision in third quarter GDP. Coming...

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New ipo listing

IPO Listing - Thangamayil Jewellery Ltd-----------Thangamayil Jewellery Ltd IPO will list on Friday, February 19, 2010.Issue price of this IPO has been fixed at Rs 75/- per share.Thangamayil Jewellery IPO subscribed 1.12 times(2.2633 times inretail).IPO Listing DetailListing Date: Friday, February 19, 2010BSE Script Code: 533158NSE Symbol: THANGAMAYLListing In: 'B' Group of SecuritiesISIN: INE085J01014Issue Price: Rs. 75.00 Per Equity ShareFace Value: Rs. 10.00 Per Equity Share-----------IPO Listing - Aqua Logistics Ltd-----------Aqua Logistics Ltd IPO will list on Tuesday, February 23, 2010. Issueprice of this IPO has been fixed at Rs 220/- per share. Aqua LogisticsIPO subscribed 1.94 times(3.0002 times in retail).IPO Listing Detail Listing Date: Tuesday, February 23, 2010BSE Script Code:...

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Recommendation after Q3 Results 04/02/10

Aban Offshore LtdAban trading at 5xFY'11E earnings and 4xFY'12E earnings can witness upside triggers in price for any new contracts for its idle assets or upwards revision of day rates for any of its assets. We value the company on an EV/ EBIDTA basis and rate it a Buy with a targetmultiple of 6.1x and target price of Rs.1566. Bajaj Auto Ltd Q3-FY'10 were above expectations and we continue to remain upbeat on the prospects for Bajaj Auto trading at 13xFY'11E earnings and re- iterate Buy with a target of Rs2116. Dhampur Sugar Mills Ltd After a bumper Q1 performance we upgrade earnings for DSM and recommend a Buy on the stock trading at 4.3xFY'10E earnings with a one- year price target of Rs236. JSW Steel Ltd Given its strong Q3 performance we continue to maintain Buy on JSW Steel trading...

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