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Market Outlook: Indian markets will have flat to negative opening on the back of
weakness in the global sentiments and monsoon concerns still linger. Equity benchmarks
are poised at crucial levels, which could be breached if w eakness persists. Nifty has
supports at 3850-3900 and resistances are at 4100 -4150. Weakness is expected to
continue. Overall outlook for the markets today is that of caution as the bulls are on the
ropes and maybe unable to manage a sustainable upthrust in the absolute near term.
Nifty Outlook: Pivot Level: 4036
R1: 4097, R2: 4190, R3: 4250
S1: 3943, S2: 3883, S2: 3790
Results today: Axis Bank, Motilal Oswal, Gammon Infra, Indowind Energy, E TC
Indian ADRs: Infosys up 4%, Satyam, Wipro up 2%, Tata Motors down 2%, ICICI Bank,
HDFC Bank down 1%
On the global front”: US mkts end flat; Dow down 36 pts, Nasdaq up 4 pts while
Asian markets trading weak; Hang Seng , Nikkei down. The US markets closed flat.
The Dow Jones and S&P 500 ended the session with modest losses. However, the
NASDAQ finished with a slight gain. Crude ended below USD 60 per barrel. It was fourth
straight week of losses on Wall Street. Stocks ra cked up their fourth straight down week
as a Chevron's profit warning exacerbated earnings worries. The Dow Jones was down
36.65 points or 0.45% at 8146.52 and S&P down 3.55 points or 0.4% at 879.13.
However, the NASDAQ closed up 3.48 points or 0.2% at 175 6.03.
Stocks in action for the day: BHEL, Sun Pharma, Geojit, Sterlite, Era
BHEL: -In talks with Sheffield UK for tech transfer in JV (joint venture) -In casting &
forging JV with Sheffield UK, to invest Rs 1,000 crore in JV -In talks with Areva & BharatForge for stake sale in JV Sun Pharma: -In pact with Forest Lab to settle Escitalopram dispute -To get upfront
payment, royalty from Lundbeck pact -To license out Escitalopram, Citalopram toLundbeck Infomedia Q1 YoY: -Revenue down 14% at Rs 19.18 crore ver sus Rs 22.25 crore -
EBITDA (earning before interest, tax, depreciation and amortisation) loss of Rs 5 croreversus Rs 4 crore -Net loss of Rs 10.7 crore versus net profit of Rs 13.26 lakh Geojit Financial Q1 YoY : -Net sales up 61% Rs 70 crore versus Rs 43. 50 crore -Net
Profit up 87% at Rs 13.25 crore versus Rs 7.1 crore Mahindra Holidays to list on July 16, IPO issue price Rs 300 a share
Mahindra Satyam recalls 600 employees from virtual pool in last 2 weeks
Jet Airways fires 43 employees as part of cost restructuring exercise
Sterlite Energy plans to raise Rs 3000 crore via IPO – DNA (100% subsidiary of Sterlite)
Monday 13th July 09
Mehta Equities Ltd.
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Allcargo Global hunts for buys abroad
Bajaj Hindusthan comes out of NSE F&O curb
IL&FS Investment Managers board meet on July 15 on stock split
Board meets: Era Infra on QIP issue, increase in FII investment limit from 40% to 65%
1.6 Crore Dewan Housing shares to hit the market on July 13 ((QIP issue))
1 crore Emami shares to hit the market on July 13 ((QIP issue))
Ex-dividend: ITC @ Rs 3.70
Mehta Equities Limited - INDIA. A Member of Stock Exchange Mu mbai.
Contact: Madhusudan Sarda / Prashantt Tapse in Equity Research Department,
Mehta Group, 612, Arun Chamber, Near A.C.Market Tardeo, Mumbai -400034.
Tel.: 91-22-4007 0100. Fax: 91-22-40070102 Web Site: www.mehtagroup.in, E -mail : ma prashant Disclaimer: The information contained in this report is obtained from reliable sources and is directed at institut ional investors. In no circumstances
should it be considered as an offer to sell/buy or, a solicitation of any offer to, buy or sell the securities or commodities mentioned in this report. No representation is made that the transactions undertaken based on the information contained in this report will be profitable, or that they will not result in losses. Mehta Equities Ltd and/or its representatives will not be liable for the recipients’ investment decision based on this report.
Monday 13th July 09
Mehta Equities Ltd.
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