Stocks in news: RIL, RPL, Infy, Bharati Ship, Great Off

Here are stocks that are in news today:

Reliance Industries - Exclusive: Sources
-Reliance (RIL) to sell part of treasury stock
-RIL to sell 1 crore treasury shares held by Reliance Petroleum trust
-RIL keeps option open to double treasury stake sale
-RIL to raise $437 million, option to double size
-Reliance Petroleum trust holds 6.65% stake in RIL
-RIL says have not sold any shares

Exclusive: Great Offshore Saga
-Bharati Shipyard buys 11.2 lakh shares (3% equity)
-Bharati Shipyard buys stake at Rs 560/share ((CMP Rs 565))
-Bharati will need to up open offer to minimum Rs 560/share
-Videocon among sellers in Great Offshore
-Bharti increases stake in Great Offshore to 22.5%

Pipavav IPO Update
-Overall subscribed 2.67 times
-QIB subscribed 2.82 times, HNI 7.54 times, Retail 0.88 times

Exclusive: Bharti-MTN update:
-Bharti's Akhil Gupta to meet South Africa authorities, stakeholders: sources
-Final deal structure will protect South Africa govt's economic interest: MTN Sources

Hewlett-Packard BPO Units - Exclusive: Sources
-Infosys, Cognizant likely suitors for Hewlett-Packard BPO units
-3 Hewlett-Packard BPO units up for grabs; estimated value $150 million
-Alert: Hewlett-Packard has 4 BPO units in India


Source: Moneycontrol

Pipavav IPO overbid 2.67 times: Should you invest?

Pipavav Shipyard has opened its initial public offering (IPO) of 85,450,225 equity shares of Rs 10 each for subscription. It has been subscribed 2.67 times so far and has received bids for 18.72 crore shares as against the issue size, as per the data available on the NSE website.

Maximum bids were seen at Rs 60/share, a higher end of the price band. Qualified and non-institutional investors' portion subscribed 2.83 times and 7.53 times, respectively.

It will raise nearly Rs 513 crore at higher end of the price band Rs 55-60 per equity share. The issue will close for subscription on September 18, 2009.

Moneycontrol conducted a poll whether to subscribe the issue or not. All experts recommended avoiding the issue while SP Tulsian and Avinash Gorakshakar recommended subscribing the issue.

Source: Moneycontrol

Ashwani Gujral's top five picks for today's trade

HCL Technologies: Buy
Stop loss at Rs 315 per share
Target of Rs 350 per share
HCL Technologies has been in a narrow range for the last eight-ten days and on September 16 broke out above Rs 320-321 –– from here it could easily go up to Rs 350 levels. So, we can keep a stop of about Rs 315 per share and buy it. On September 16, technologies came back so that’s a call given by the American Depository Receipt (ADR) performance that today HCL Tech could do well.


Nilkamal: Buy
Stop loss at Rs 135 per share
Target of Rs 154 per share
Correction for five-six days, stock did well on September 16 for the first day. So that should follow through today; Rs 135 per share is a stop here could buy it with a day’s target of about Rs 154 per share.


Eveready: Buy
Stop loss at Rs 65 per share
Target of Rs 79 per share
Eveready consolidated between Rs 60 and Rs 70 level. On September, the stock tried to move out. Now we have a stop of about Rs 65 per share and we could get to levels of Rs 79-80 per share.


Classic Diamond: Buy
Stop loss at Rs 19 per share
Target of Rs 25/29 per share
All the diamond stocks, the jewellery stocks are doing well maybe exports are picking up. Here Rs 19 per share is a good stop; one could get this stock at Rs 25 per share and even a bit larger target of Rs 29 per share. Generally the smaller stocks start doing well once retail participation comes back and even if the market levels are 5,000, retail participation is really low. So these stocks are yet to get to their full potential.


Torrent Power: Buy
Stop loss at Rs 254 per share
Target of Rs 300 per share
Torrent Power is a stock that’s making fresh highs. Power is sort of in the flavour, on September 16, ABB was seen coming back. So, one could buy this with a stop of about Rs 254 per share, target here could be easily Rs 300 per share. Beyond 5,000, we will get heavy-duty buying, that frenzied buying likely to come in midcap. So a lot of midcaps which broke out on September 16 are good buyers for levels beyond 5,000.


Source: Moneycontrol

Karnataka Bank (Rs 135.2): Buy

We recommend a buy in Karnataka Bank from a short-term horizon. It is evident from the charts that the stock, after encountering key resistance at Rs 155 in late May, began to decline. It was on a medium-term downtrend until it found support at around Rs 124 in late August. Subsequently, the stock commenced trending up, resuming its intermediate-term uptrend that started from the March low of Rs 55. The stock surpassed its 21-day moving average recently and it breached its 50-day moving average on September 15. Moreover, we notice that there is an increase in volumes over the past three trading sessions. The daily relative strength index (RSI) has entered the bullish zone and the weekly RSI is on the verge of entering this zone. Our short-term outlook for the stock is bullish. We expect it to rally further until it knocks our price target of Rs 149 in the approaching sessions. Traders with a short-term perspective can buy the stock while maintaining a stop-loss at Rs 128.

Source: thehindubusinessline

Buy Canara Bank, says Sudarshan Sukhani

One should buy Canara Bank, says Technical Analyst, Sudarshan Sukhani.

Sukhani told CNBC-TV18, "Canara Bank has been a good performer but it has not gone to the excesses – I will not call them excesses, it has not run up as much as Bank of India or Bank of Baroda, which means there is a lot of potential in Canara Bank to do what the other banks are in the process of doing.”

He further added, “Canara Bank is a stock that has seen back-to-back gains. Normally I would have said buy on dips but banks are not buy-on-dips candidates. This rally can continue not only today but for the next few days. So you should go ahead, buy Canara Bank, keep a stoploss if you are a day trader, you have a target. If you are a positional trader, you can just hang on to Canara Bank and wait patiently for the next few days.”

Source: Moneycontrol

Buy Television Eighteen: Sudarshan Sukhani

Sukhani told CNBC-TV18, "I like TV18 and that is a surprise because I have been very bearish on that stock for many months and the stock prices have more or less justified my skepticism. TV18 after a very sharp correction - first a sharp rally and then a sharp correction – is in a trading range. Yesterday it picked up a little but that is what we need to know that maybe it is coming out of the trading range. So, it is a low price stock in a sense it has corrected a lot. So, there is a lot of potential on the upside. I am not talking about fundamentals but technically there is a buying opportunity here and once these themes get captured by the market, the rallies could be much higher. For a day trader, you have targets; for a positional trader, it could be very interesting.”

Source: Moneycontrol

Pipavav IPO fully subscribed: Should you invest?

Pipavav Shipyard has opened its initial public offering (IPO) of 85,450,225 equity shares of Rs 10 each for subscription today. It has been subscribed 1.42 so far and has received bids for 9.9 crore shares as against the issue size, as per the data available on the NSE website..

It will raise nearly Rs 513 crore at higher end of the price band Rs 55-60 per equity share. The issue will close for subscription on September 18, 2009.

Moneycontrol conducted a poll whether to subscribe the issue or not. All experts recommended avoiding the issue while SP Tulsian and Avinash Gorakshakar recommended subscribing the issue.

Source: Moneycontrol