Friday, 18 September 2009

Stocks in news: ICICI Bank, Raymond, Axis Bank, HCL Tech

Here are stocks that are in news today:

Axis Bank update:
-Axis Bank raises $720 million via QIP (qualified institutional placement) cum GDR (global depositary receipt) Issue
-Axis Bank prices QIP cum GDR Issue at Rs 906.70/share
-Equity dilution of 11%
-CNBC-TV18 was first to report fund raising

Pipavav Shipyard IPO closes today
-Overall subscribed 3.6 times
-QIB 4 times, HNIs 9.4 times, Retail 1.1 times

RIL - Sources: From NW18
-Govt ups D6 gas allocation for Dabhol plant to 5.67 mmscmd
-Alert: Dabhol plant was earlier allocated 2.7 mmscmd gas
-Govt asks RIL to supply 5.67 mmscmd gas to Dabhol from October 1

ICICI Bank - Exclusive
-ICICI Bank finalises sale of Point Of Sale (PoS) terminals
-ICICI Bank to sell PoS assets to First Data for $80 million
-Assets to be hived off into a JV with first Data
-First Data to hold 81% stake; ICICI Bank to hold 19%
-ICICI Bank to pay $15-16 million for 19% stake in PoS JV

Exclusive: HCL Tech
-Signs 2 IT Infra management contracts
-Signs 5 years deal with Energy Future Holdings, Oncor
-Combined deal valued at $110 million over 5 years
-HCL Tech to book it over 6 to 8 months

WNS Says
-Board completes consideration of EoIs
-Board has decided to not to pursue further discussion
((Wipro was among the bidders))

Raymond's Realty Foray: Gautam Singhania Says
-Realty business to primarily have residential focus
-Funding for realty projects from internal accruals
-Expect approvals to come in 3-6 months

Source: Moneycontrol

Invest in Asian Hotels, Hotel Leela: Sukhani

One can invest in Asian Hotels, Indian Hotels, EIH and Hotel Leela, says Technical Analyst, Sudarshan Sukhani.

Sukhani told CNBC-TV18, "All the three-four hotel companies have rallied after big base building and consolidation. I think there is an investment opportunity in the hotel business. I don’t know about short-term trading because sometime after these rallies, the stock can consolidate but an investor need not worry about that part. If it consolidates, let it. So there are investment opportunities in Asian Hotels, Indian Hotels, EIH and Hotel Leela. While all of them equally deserve; I think Hotel Leela is the most attractive among the four.”

Source: Moneycontrol

Buy IT stocks, says Sudarshan Sukhani

One can buy IT stocks, says Technical Analyst, Sudarshan Sukhani.

Sukhani told CNBC-TV18, "Midcap technology stocks have rallied a lot, gone through a small and brief correction and now have started a rally again yesterday. Purely on charts, the entire midcap universe in IT and the largecaps are now buying opportunities because the largecaps actually moved up to new highs again for the season. So for short-term trader there are opportunities here. A lot would depend on how the Nifty behaves but with some stop losses, it is possible to enter on dips in these stocks. In any case, do not short sell.”

Source: Moneycontrol

See more upside in aviation stocks: Sukhani

There is more upside in aviation stocks, says Technical Analyst, Sudarshan Sukhani.

Sukhani told CNBC-TV18, "In aviation stocks these 18-20% gains suddenly coming in one day.- that is not surprising because these stocks were in a trading range for months and one of the first signs that this would happen came when Jet did not fall even when there was a strike going on. There is the potential here. You don’t actually buy it today because after such a big rally, the stocks are likely to correct and consolidate but my sense is that no matter what the aviation business does, this stock chart suggests that there is more upside possible. So these are stocks you want to watch and buy the next time they consolidate.”

Source: Moneycontrol

Invest in Axis Bank, says SP Tulsian

Tulsian told CNBC-TV18, "Capital is a lifeline for everyone but for banks it is more as a lifeline. Axis Bank would be looking for going into the PE and AMC business also, so that means they are trying to spread their wings in the new business because we have all being seeing quite a good comfort in the stock. They have been consistent performers and last couple of months back there were some disappointments on the change of the top managements and there were some discernments amongst the existing ones. But I don think that those things can come in the way, the bank will keep growing like this and if someone takes really good call on the time horizon of about six to twelve months, I think this is an ideal stock and there are three banks which you can go in comfortably in the private sector, HDFC, Axis Bank and ICICI Bank. With a fresh amount of about Rs 3,500 crore getting infused will definitely be growing, though we are talking about a 11% equity dilution but that will be EPS accretive, so with a 6-12 month horizon it is a very good stock to invest and even for the traders, I think this gives a good trading opportunity on an intraday basis of about 15-20 on a daily basis taking a long call those who wants to trade can buy and keep on exiting at a profit of 15-20 on a weekly basis on a trading horizon.”

Source: Moneycontrol

Sudarshan Sukhani's top five picks for today

Technical Analyst Sudarshan Sukhani of Technical Trends recommends investors to go short on Bhushan Steel with a target of Rs 1,240 a share and a stop loss at 1,336 a share. However, he also advises buying Colgate with a target of Rs 630 a share and a stop loss at Rs 610 a share, Deccan Chronicle with a target of Rs 124 a share and a stop loss at Rs 110 a share, United Spirits with a target of Rs 920 a share and a stop loss at Rs 876 and MTNL with a target of Rs 94.50 a share and a stop loss at Rs 90 a share.

Key levels to watch out for:

Bhushan Steel: Short
Target of Rs 1,240 per share
Stop Loss at Rs 1,336 per share

Colgate: Buy
Target of Rs 630 per share
Stop Loss at Rs 610 per share

Deccan Chronicle: Buy
Target of Rs 124 per share
Stop Loss at Rs 110 per share

United Spirits: Buy
Target of Rs 920 per share
Stop loss at Rs 876 per share

Target of Rs 94.50 per share
Stop Loss at Rs 90 per share

Source: Moneycontrol

Tata Metaliks (Rs 102.4): Buy

We recommend a buy in Tata Metaliks from a short-tem perspective. It is visible from the charts of the stock that in mid-August it took support at Rs 80 and resumed its intermediate-term up trend. This trend has been in place since March low of Rs 44.5.While trending upward, it penetrated its 21- and 50-day moving averages in late August and is trading way above them. On September 17, the stock surpassed a medium-term resistance around Rs 95 by surging 5 per cent with good volume. The daily relative strength index (RSI) is hovering in the bullish zone and the weekly RSI has entered into the zone. Both daily and weekly moving average convergence and divergence indicators are featuring in the positive territory. Our short-term outlook on the stock is bullish. We expect its rally to prolong until it hits our price target of Rs 113 in the approaching sessions. Traders with a short-term perspective can buy the stock while maintaining a stop-loss at Rs 96.5.

Source: thehindubusinessline

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.