Strong cues from global market attracted good buying in BANKING, AUTO, METALS, INFRASTRUCTURE and FERTILIZERS. SENSEX closed at 18081, up 212 points and Nifty at 5431, up 64 points from the previous close. CNX MIDCAP index was up 1% and BSE SMALLCAP index was up 0.9%. The market breadth was positive with advances at 819 against declines of 457 on the NSE. Top gainers included ICICIBANK, BHARTIARTL, SBIN, ONGC, STER and PNB. Top losers are listed as WIPRO, TCS, NTPC, CIPLA, M&M, RPOWER and SAIL.

In the next session, banking stocks may continue buying. 5390 May act as strong support level. Traders are suggested to follow the strategy of buying at dips. BANKNIFTY FUTURE may target 10530 and 10260 might act as strong support level.

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

Concurrent (India) Infrastructure signed an agreement with Vakratund Ispat of Pune for acquisition of its steel plant located at Sanaswadi. The plant has a capacity of 65,000 tonnes per annum for producing TMT bars and rods and structural steel used by construction and infrastructure industry. The plant has a capacity to generate revenue to the tune of Rs 180 crore per annum.

Deep Industries has obtained notification of awards for hiring of services for compression of natural gas at Kesanapalli (w)- GGS for a period of five years. The approximate value of contract aggregates to Rs. 1149.75 lakh.

Tanla Solutions has become the first company to have live services over a 3G network in India. Tanla has announced the deployment of video mail service in the 3G spectrum with the state owned Mahanagar Telephone Nigam
(MTNL). MTNL is the first Indian mobile operator to launch 3G services in India.

Bilcare and the INEOS Group have agreed terms for the acquisition of INEOS Group's Global Films business by the company. INEOS Films is a leading global producer of high quality polymer films. The Global business, assets and personnel related to INEOS' Films operations located in North America, Europe and Asia are covered as part of the transaction.

The board of Consolidated Construction Consortium (CCCL) in its meeting on 28 July 2010 has noted that a new subsidiary named CCCL Power Infrastructure Services has been incorporated on June 2010 and CCCL had entered into a joint venture with Edac Energy by forming a company named CCCL EDAC Energy for executing BOP and EPC power projects.

NTPC has set for itself a target to have an installed power generating capacity of 1,28,000 MW by the year 2032. The capacity will have a diversified fuel mix comprising 56% coal, 16% gas, 11% nuclear and 17% renewable
(including hydro). Therefore, by 2032 non-fossil fuel based generation capacity shall make up nearly 28% of NTPC's portfolio

Disclaimer: The above mentioned ideologies are based on the research done at Fairwealth research department. Fairwealth securities (P) Ltd will not be responsible for any kind of losses incurred by any part either directly or indirectly based on our research results, though we have presented to the best of our knowledge.