Again weak global cues put selling pressure over Indian market; REALITY, METALS, BANKING, OILGAS and TELECOM stocks faced major sell off and indices not only shed earlier hour’s gains but closed in deep red. Top gainers included TATAPOWER, CIPLA, HDFC, ITC, NTPC, SIEMENS and AXISBANK. Top losers are listed as HINDLACO, RCOM, BHARTIARTL, ICICIBANK, DLF and RPOWER. SENSEX closed at 16617, down 163 points and Nifty at 4987, down 46 points from the previous close. CNX MIDCAP index was down 0.6% and BSE SMALLCAP index was also down 0.6%. The market breadth was negative with advances at 430 against declines of 849 on the NSE.

Next Day Trading Session:
 
In the next session 4949 (NIFTY SPOT) may act as a crucial level for NIFTY. If sustains below 4949 NIFTY may target 4853 and 4803 while any pull back might be resisted by 5040 and 5070 levels. Traders are again suggested to follow the strategy of selling at gains. BANKING and METALS may see more sell off while FMCG and IT may show some strength.

Fundamental Picks

Investors having a horizon of 6-12 months can buy the following companies. The companies have a potential to
give higher returns than index over a long term.

Allied Digital Services Ltd
Bartronics India Ltd
DIC India Ltd
Dena Bank Ltd
Nectar Lifesciences ltd
GEI Industrial Systems Ltd
TNPL Indoco Remedies Ltd
JK Paper Ltd
Ballarpur Industries Ltd
Aarti Drugs
Riddhi Siddhi
Gluco Biols
Electrotherm (India)
Balkrishna Ltd.
McNally Bharat
Ess Dee Aluminium
Hyderabad Industries
Monnet Ispat
Biocon
Alembic
Visaka Industries
Munjal Showa
Jindal Saw Ltd

Riddhi Siddhi Gluco Biols has achieved its target of 258, call given at 216
Aarti drugs has achieved its first target of Rs. 130
Ess Dee Aluminium has achieved its target of Rs 520

Corporate Highlights
 
Bharti Airtel has took a giant step towards becoming a global emerging market telecom operator by completing the acquisition of Zain Groups mobile operations in 15 countries across Africa for an enterprise valuation of US$10.7 billion. With this acquisition, Airtel will become the first Indian brand to go truly global with a footprint that covers over 1.8 billion people. Bharti also becomes a
major Indian MNC with operations in 18 countries across Asia and Africa with a customer base of over 180 million.

Ranbaxy (S.A), a wholly owned subsidiary of Ranbaxy Laboratories has launched Lipogen (atorvastatin) in strengths of 10, 20, 40 and 80mg into the South African market. Ranbaxy is the first generic pharmaceutical Company to launch a generic atorvastatin in South Africa. Atorvastatin is the second largest molecule in South Africa after esomeprazole. Atorvastatin is a cholesterolreducing medicine.

Consolidated Construction Consortium (CCCL) has bagged Rs. 200 crore Goa Airport project from Airports Authority of India. The project has been awarded to CCCL for construction of New Integrated Terminal Building at Civil Enclave Goa.

Kyushu Railway Company (JR Kyushu), a major railroad company in Japan, and Patni Computer Systems have signed a joint venture pact between JR Kyushu System Solutions (JRQSS), the IT systems arm of Japans Kyushu Railway Company and Patni Computer Systems Japan, Inc. (Patni Japan), the Japanese arm of Patni.

HCC Infrastructure (HIL), a 100% subsidiary of Hindustan Construction Company (HCC) has signed a Memorandum of Understanding (MOU) with Orascom Construction Industries (OCI) for bidding and developing large NHAI projects in India. HIL and OCI will also explore a broader scope of partnership with the intent of jointly creating a premium portfolio of infrastructure assets across different sectors in India.

Niraj Cement Structurals has received an order from Greater Mohali Area Development Authority, Chandigarh for construction of 200 wide road from RUB Junction to NH-64. This project is awarded to the company in joint venture with ARSS Infrastructure Project in Orissa. the value of the contract is Rs. 80.32 crore.