Sell USDINR Nov below 62.5; Resistance 62.8: Sushil Finance

Sushil Finance's report on currency

The Indian Rupee appreciated by 0.07 percent in Yesterday's trading session and closed at 62.36 on the back of weakness in DX coupled with rise in risk appetite in the domestic markets. Further, strong fund inflows and expectations among the investors that the US Federal Reserve may continue with its bond buying programme supported Indian Rupee to gain strength. However, continued demand for green back from Importers along with the disappointing economic data from the country prevented further gains in the currency.

Outlook: We expect Indian Rupee to trade on positive note on the back of weakness in DX. Further, Strong Fund flows and RBI measures to attract inflows will support currency to gain strength. Apart from that, US Federal Reserve Chairman Ben Bernanke said that the US Federal reserve will maintain its ultra-easy monetary policy as long as needed this may prove positive for the currency. However, mixed global market sentiments, continued demand for Dollar from Importers and disappointing economic data from the country may prevent sharp gains in the currency.

Technical Outlook
Currency - USDINR Nov
Strategy - Sell below 62.5
Support - 61.85/62.15
Resistance - 62.5/62.8

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Hold Larsen and Toubro: Salil Sharma

Nov 20, 2013, 12.12 PM IST

Salil Sharma of Kapur Shah & Co recommends holding Larsen and Toubro (L&T) as the stock may touch Rs 1500 if it manages to cross Rs 1020.

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Hold Larsen and Toubro: Salil Sharma

Salil Sharma of Kapur Shah & Co recommends holding Larsen and Toubro (L&T) as the stock may touch Rs 1500 if it manages to cross Rs 1020.

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Hold Larsen and Toubro: Salil Sharma

Salil Sharma of Kapur Shah & Co recommends holding Larsen and Toubro (L&T) as the stock may touch Rs 1500 if it manages to cross Rs 1020.

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Salil Sharma of Kapur Shah & Co told CNBC-TV18, " Larsen and Toubro (L&T) is a good stock because it has seen the worst already, it had gone down to test the lows of around Rs 700 and from there we have seen a good recovery. From the charts it is looking very clear that even for the long-term the weekly charts need to just clear above Rs 1020 level and then it would become a very good hold for the next two-three years, it is a very good play on the infrastructure space."

"I would suggest holding on to it, the share has a very good support in the long-term close to Rs 900. So that could be a stoploss and once Rs 1020 is cleared then in the next three years, I think one can expect a target of around Rs 1500," he said.

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Above Rs 20.50, Jaypee Infra may test Rs 28: Salil Sharma

Salil Sharma of Kapur Shah & Co told CNBC-TV18, " Jaypee Infratech is not a bad stock. In the infrastructure space Larsen and Toubro (L&T) would be a better stock to be in. However if one wants to stay invested in Jaypee Infratech then the stoploss will be at Rs 17."

"On the upside Rs 20.50 is a strong resistance, if that is cleared then one can expect a price of Rs 28 in the next six-eight months," he said.

At 12:14 hrs Jaypee Infratech was quoting at Rs 19.20, up Rs 0.40, or 2.13 percent.

The share touched its 52-week high Rs 58.60 and 52-week low Rs 14.45 on 07 January, 2013 and 28 August, 2013, respectively.

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Hold Maruti Suzuki: Shardul Kulkarni

Nov 19, 2013, 12.26 PM IST

Shardul Kulkarni of Angel Broking recommends holding on to Maruti Suzuki India as the stock may test Rs 1750-1800.

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Hold Maruti Suzuki: Shardul Kulkarni

Shardul Kulkarni of Angel Broking recommends holding on to Maruti Suzuki India as the stock may test Rs 1750-1800.

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Hold Maruti Suzuki: Shardul Kulkarni

Shardul Kulkarni of Angel Broking recommends holding on to Maruti Suzuki India as the stock may test Rs 1750-1800.

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Shardul Kulkarni of Angel Broking told CNBC-TV18, "The weekly and monthly charts of Maruti Suzuki India are quite strong. I would suggest that one should hold on to this particular counter. On the lower side Rs 1560 is the level wherein one should place a stoploss. If the stock unfortunately were to close below Rs 1560 then momentum will fizzle out."

"At Rs 1750-1800 one should ideally look at from a profit booking perspective in probably around three-six months time frame. The chart is quite strong, much stronger than most of the other auto counters," he said.

Action in Maruti Suzuki India

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Vedanta commissions world's first red mud powder plant

Vedanta Aluminium Ltd (VAL) has commissioned a red mud powder producing unit at Lanjigarh refinery in Odisha, describing it as first of its kind in alumina industry tackling major environmental hazards.

"The unique project of producing red mud powder has been commissioned in a fully mechanised and automatic plant. The system has been developed in-house after continuous research for more than three years," a senior company official said in a statement today.

Giving details of the project, Mukesh Kumar, president and COO of VAL said the project which was commissioned last week is the first of its kind in the world and has been set up with a capital expenditure of around Rs 50 crore.

This will have advantages like savings in caustic consumption by 10-15 kg per tonne of alumina, minimising land requirement by 50 to 60 per cent, and doing away with wet red mud storage thereby eliminating environmental hazards, he said.

The powdery red mud can easily be utilised in cement industry as well as in other Industries, Kumar said. Red mud is a waste from alumina industry and its disposal and utilisation has always been a matter of concern for environmentalists as well as alumina industry.

Also read: Vedanta aims to triple capacity despite alumina shortage
   
Although, the alumina technology is more than 100 years old but no solution could be evolved by the industry to avoid storage of red mud slurry, sources said. As the slurry is alkaline in nature and its generation is nearly one and a half times of alumina, world over millions of tonnes of red mud is lying in various red mud ponds except in some countries where it is discharged into the sea.

In any alumina refinery, a major portion of land is used for handling this waste. Although, red mud is rich in iron and titanium, no use could be made till now mainly due to presence of caustic soda.

Looking into the serious nature of hazard such red mud ponds may have, MoEF has formed a special project only few months back as National Mission for Red Mud to sponsor and promote research in red mud utilisation, sources said.

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Confidence Trading Company approves sub division of shares

Nov 19, 2013, 12.27 PM IST

Confidence Trading Company at its meeting held on November 18, 2013, has approved the sub-division of shares from 1 share of Rs 10 each to 10 shares of Re 1 each, fully paid.

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Confidence Trading Company approves sub division of shares

Confidence Trading Company at its meeting held on November 18, 2013, has approved the sub-division of shares from 1 share of Rs 10 each to 10 shares of Re 1 each, fully paid.

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Confidence Trading Company approves sub division of shares

Confidence Trading Company at its meeting held on November 18, 2013, has approved the sub-division of shares from 1 share of Rs 10 each to 10 shares of Re 1 each, fully paid.

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Confidence Trading Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 18, 2013, inter alia, has approved as under :1. The Board discussed and approved the Sub-division of shares from 1 share of Rs. 10/- each to 10 shares of Rs. 1/- each, fully paid.2. The Board has decided to hold Extraordinary General Meeting (EGM) of the members of the Company at 12.30 PM on December 13, 2013 at the registered office of the company for the purpose of sub division of shares.3. The has approved the change of name of company to CONFIDENCE FINANCE AND TRADING LIMITED subject to relevant approvals from the concerned authority.Source : BSE

Read all announcements in Confidence Trad

Action in Confidence Trading Company

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IFL Promoters: Outcome of Board Meeting

Nov 18, 2013, 12.17 PM IST

IFL Promoters at its meeting held on November 14, 2013, has allotted 2,95,00,000 Equity Shares upon the conversion of 59,00,000 warrants issued to the strategic investors.

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IFL Promoters: Outcome of Board Meeting

IFL Promoters at its meeting held on November 14, 2013, has allotted 2,95,00,000 Equity Shares upon the conversion of 59,00,000 warrants issued to the strategic investors.

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IFL Promoters: Outcome of Board Meeting

IFL Promoters at its meeting held on November 14, 2013, has allotted 2,95,00,000 Equity Shares upon the conversion of 59,00,000 warrants issued to the strategic investors.

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IFL Promoters Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 14, 2013, inter alia, has allotted 2,95,00,000 Equity Shares upon the conversion of 59,00,000 warrants issued to the strategic investors.Source : BSE

Read all announcements in IFL Promoters

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Universal Credit Securities: Board approves Sub-Division of Equity Shares

Nov 18, 2013, 12.18 PM IST

Universal Credit & Securities at its meeting held on November 16, 2013, has approved sub-division of face value of Equity Shares. Every shareholder holding 1(one) Equity share of Rs. 10/- each will be entitled to 2 (two) Equity Share of Rs. 5/- each.

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Universal Credit & Securities: Board approves Sub-Division of Equity Shares

Universal Credit & Securities at its meeting held on November 16, 2013, has approved sub-division of face value of Equity Shares. Every shareholder holding 1(one) Equity share of Rs. 10/- each will be entitled to 2 (two) Equity Share of Rs. 5/- each.

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Universal Credit & Securities: Board approves Sub-Division of Equity Shares

Universal Credit & Securities at its meeting held on November 16, 2013, has approved sub-division of face value of Equity Shares. Every shareholder holding 1(one) Equity share of Rs. 10/- each will be entitled to 2 (two) Equity Share of Rs. 5/- each.

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Universal Credit & Securities Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 16, 2013, inter alia, has transacted the following:1. Approved sub-division of face value of Equity Shares. Every shareholder holding 1(one) Equity share of Rs. 10/- each will be entitled to 2 (two) Equity Share of Rs. 5/- each.2. Extra Ordinary General Meeting of the Company will be held on December 11, 2013 to obtain necessary approvals from the members.Source : BSE

Read all announcements in Universal Sec

Action in Universal Credit and Securities

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Exit Jaiprakash Associates: Shardul Kulkarni

Nov 18, 2013, 12.19 PM IST

Shardul Kulkarni of Angel Broking recommends exiting Jaiprakash Associates at around Rs 49.50-50 on the upside.

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Exit Jaiprakash Associates: Shardul Kulkarni

Shardul Kulkarni of Angel Broking recommends exiting Jaiprakash Associates at around Rs 49.50-50 on the upside.

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Exit Jaiprakash Associates: Shardul Kulkarni

Shardul Kulkarni of Angel Broking recommends exiting Jaiprakash Associates at around Rs 49.50-50 on the upside.

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Shardul Kulkarni of Angel Broking told CNBC-TV18, "The lower side support level in Jaiprakash Associates is Rs 42.30. If the stock were to break Rs 42.30 then one would actually get a trend line breakdown. So look at it from a 15-20 days trading perspective."

He further added, "Below Rs 42 it is best to exit from the counter. On the upside if the stock moves towards Rs 49-49.50 then that is also a decent price to exit because the weekly chart is quite bad. We have seen a very strong lower top lower bottom cycle and the bounce has come from around Rs 30 odd to Rs 48-49. It has strong resistance at around Rs 50."

"I would either exit below Rs 42 or near Rs 50 from JP Associates," Kulkarni said.

Disclosure: It is possible that he has positions in the stock discussed and may have recommended them to his clients.

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Auto Selector: Solution to all your motoring queries

Nov 16, 2013, 04.55 PM IST

Bertrand D'souza answers your auto queries on Overdrive's Auto Selector.

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Auto Selector: Solution to all your motoring queries

Bertrand D'souza answers your auto queries on Overdrive's Auto Selector.

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Auto Selector: Solution to all your motoring queries

Bertrand D'souza answers your auto queries on Overdrive's Auto Selector.

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Bertrand D'souza answers your auto queries on Overdrive's Auto Selector.

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