Buy Unitech, Amtek India, Alok Ind, Rolta: Pankaj Jain

Pankaj Jain, Director of Sunteck Wealthmax recommends going long in Rolta and Alok Industries.

In CNBC-TV18's popular show Bull's Eye, Pankaj Jain, Director of Sunteck Wealthmax shares his trading strategies for the day.

One may go long in  Unitech . The stock corrected by more than 15 percent in last few trading session and short-term momentum is back in it. Levels close to Rs 36 could be achieved during the day today.

One may go long in Amtek India . This is a sort of carry forward call and taking the strong technicals and momentum indicators that are still seen in the stock and high delivery volume that are seen in the stock, I believe it could move in positive direction during the day.

One may go long in Alok Industries . Again, not a very healthy stock on basis of fundamentals, balance sheet is very stressed and it's a case of over expansion and high debt but technicals look strong. It seems that the stock could move up by another 10-20 percent even from current levels inspite of challenging fundamentals.

One may go long in  Rolta . The stock has been buzzing around in last one month or so, the kind of action that was seen in the stock, the kind of positivity that was seen, relative strength index (RSI) indicators also suggest that the stock could move up in today's trading session. Taking that into consideration, I will go long on Rolta.

14.02 | 0 komentar | Read More

Buy USDINR Jun on dips; resistance at 60.70: Sushil Finance

Indian Rupee may trade on negative note on the back of rise in risk aversion in the global markets as the geopolitical tension in Iraq escalated. One can buy USDINR Jun on dips. It has resistance of 60.55/60.70, says Sushil Finance.

Sushil Finance's report on Indian Rupee

The Indian Rupee depreciated by 0.57 percent in yesterday's trading session and closed at 60.15 on the back of weak domestic market sentiments and rise in crude oil prices. Further, geopolitical tension in Iraq added downside pressure on the currency. In Addition Whole Sale price Index (WPI) accelerated to 5 month high of 6.01 percent. Investors remained cautious ahead of US FOMC Statement.

Outlook
Indian Rupee may trade on negative note on the back of rise in risk aversion in the global markets as the geopolitical tension in Iraq escalated. Further, rise in crude oil prices may add downside pressure on the currency. Dollar demand from importers and intervention from Central Bank may keep currency under pressure. In Addition Whole Sale price Index (WPI) accelerated to 5 month high of 6.01 percent. Investors will remain cautious ahead of US FOMC statement.

Technical Outlook
Currency - USDINR June
Strategy - Buy on Dips
Support - 59.7/59.95
Resistance - 60.55/60.70

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14.02 | 0 komentar | Read More

India vows action, warns hoarders after inflation spike

India is committed to easing bottlenecks that have caused inflation to spike, Finance Minister Arun Jaitley said, blaming energy costs and "speculative hoarding" for a rise in wholesale prices that contributed to an investor selloff on Monday.

The rupee sank below 60 rupees to the dollar and government bonds had their biggest single-day fall in a month on Monday as higher-than-expected May inflation compounded worries about the impact of violence in Iraq on the price of oil, which India imports.

Also Read: Strong, prosperous India in interest of neighbours: Modi

Prime Minister Narendra Modi was elected amid widespread anger about rising prices and has made tackling inflation his top priority. Forecasts of weak monsoon rains that irrigate much of India's food production have added to inflation fears, with volatile vegetable prices rising by double digits.

"The rise in prices of food articles can also be attributed to withholding of stocks on account of apprehension of a weak monsoon," Jaitley said in a post on Facebook late on Monday.

"The State Government(s) should take effective steps to ensure that speculative hoarding is discouraged," he said.

The rupee sank to 60.23 rupees a dollar, its lowest level since May 6, and benchmark 10-year bond yields closed up 5 basis points at 8.65 percent after the government issued May wholesale inflation data on Monday. The annual pace was 6.01 percent, compared with 5.2 percent in April.

"The government is watching the movement of rupee closely," Jaitley said. "The slight instability of rupee is essentially because of Iraq oil shocks and global fear of oil price rise."

Jaitley is due to deliver his first budget in July and must balance a commitment to fiscal discipline with the government's aim of rapidly reviving economic growth.

The government "is committed to take measures which will positively impact the GDP and result in higher growth than expected. I am hopeful that the inflation which is moving upwards now would eventually come down," he said.

At the weekend, Modi warned that "bitter medicine" was needed to put India's economy back on track, without giving details.

14.02 | 0 komentar | Read More

Ganesh Housing cancels its board meeting

Ganesh Housing Corporation Ltd has informed that a meeting of Board of Directors of the Company which was scheduled to be held on June 18, 2014 has been cancelled due to unavoidable circumstances.

Ganesh Housing Corporation Ltd has informed BSE that a meeting of Board of Directors of the Company which was scheduled to be held on June 18, 2014 has been cancelled due to unavoidable circumstances.Source : BSE

Read all announcements in Ganesh Housing

14.03 | 0 komentar | Read More

Eye Rs 375cr revenue from Bengaluru project: Nitesh Estates

The company would develop gated community in an area of 12 acres to accommodate 440 units.

The project is located at prime Hennur main road, Bangalore

Ashwini Kumar

COO

Nitesh Estates

Nitesh Estates has inked a joint development agreement project in Bengaluru, in which the company has two-third economic interest. In an interview to CNBC-TV18, ED & COO Ashwini Kumar spoke about this project and the road ahead.

The company hopes to fetch total revenue of Rs 375 crore from this project. Hence it expects significant improvement in profitability over next 36 months.

At 12:10 hrs Nitesh Estates was quoting at Rs 16.80, up Rs 0.40, or 2.44 percent.

Below is the verbatim transcript of Ashwini Kumar's interview with CNBC-TV18's Nigel D'Souza and Reema Tendulkar.

Reema: With respect to this joint development, can you tell us what will be the contribution of Nitesh Estates, what is it as a percentage that you hold in this joint development and what will be the revenues that will accrue to you?

A: We own about two-thirds of the economic interest. This is a 12 acre project, so in terms of revenue to the company, it will be Rs 375 crore.

Reema: In one year or this is the total revenue?

A: No, this is the total revenue for the project and since the construction will take another three years, therefore by the time that we recognize the entire revenue, it will be three to three and a half years.

More to follow

Nitesh Estates stock price

On June 16, 2014, at 12:31 hrs Nitesh Estates was quoting at Rs 16.95, up Rs 0.55, or 3.35 percent. The 52-week high of the share was Rs 18.70 and the 52-week low was Rs 8.70.

The company's trailing 12-month (TTM) EPS was at Rs 0.53 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 31.98. The latest book value of the company is Rs 29.80 per share. At current value, the price-to-book value of the company is 0.57.

14.03 | 0 komentar | Read More

Buy Infosys, advises Hemant Thukral

Hemant Thukral of Aditya Birla Money is of the view that one may buy Infosys as the stock may test Rs 3280 if it does not break Rs 3130 on the downside.

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "I would definitely want to trade on  Infosys . I have been seeing continuously Put writing now emerging very confidently at Rs 3100 levels, that is suggesting that even if I adjust the premiums Rs 3130-3080 has become a very strong bottom and now at least the group situation changing in the sense that who is coming and who is going out is relatively more clear."

"Infoysys may play a catch-up with Tata Consultancy Services  (TCS) and HCL Technologies . So I am of the opinion that you may see it going up back to Rs 3280 if it doesn't break Rs 3130 on the downside. So I would be a buyer in Infosys in the IT heavy space," he added.

14.03 | 0 komentar | Read More

PM Modi warns of tough decisions ahead to improve economy

"I have taken over the reins of the country in circumstances when there is nothing left behind by the previous government. They left everything empty. The country's financial health has hit the bottom," Modi said.

With just a few days left for the commencement of Budget Session of Parliament, Prime Minister Narendra Modi on Saturday said that his Cabinet would take really tough measures to improve the economy of the country which is in shambles currently owing to the steps taken by the previous government.

Addressing BJP workers in Goa's Bambolim, PM Modi said, "In the coming years we will take tough decisions to improve the condition of country. People might even stop liking me in the coming times becuase of these tough decisions to improve the economy," said the PM dedicated the country's latest warship aircraft carrier INS Vikramaditya to the nation earlier in the day.

This is the first occasion in less than three weeks since taking over reins of power that Modi has made sharply critical comments on the previous Manmohan Singh government's performance.

"I have taken over the reins of the country in circumstances when there is nothing left behind by the previous government. They left everything empty. The country's financial health has hit the bottom," Modi said.

However, in the short run, such measures may not go down well with everybody, he said.

"I am well aware that my steps may dent the immense love that the country has given to me. But when my countrymen would realise that these steps would result in getting the financial health back, then I will regain that love," said the Prime Minister.

On the other hand, if these tough measures were not taken, the financial situation would not improve, he said, adding "we need to take action wherever required".

"We won't be helping the country by praising Modi and praising BJP. There is no guarantee that just singing praise of Modi would improve the situation. We need to take harsh measures to improve the financial situation," he said.

Shortly later, Modi tweeted that "time has come to take tough decisions in the interest of the nation. Whatever decisions we take will be solely guided by national interest".

(With inputs from PTI)

14.03 | 0 komentar | Read More

Will Nissan Sunny get a new lease of life in India?

The Sunny has been a household name the world over for almost half a century. The car did well in India after its launch in 2011 but after that the sales started to dwindle. Since February this year, Nissan has decided to take matters into its own hands and it has also launched a face lifted version of the car.

The Sunny has been a household name the world over for almost half a century. The car did well in India after its launch in 2011 but after that the sales started to dwindle. Since February this year, Nissan has decided to take matters into its own hands and it has also launched a face lifted version of the car. Jamshed Patel of Overdrive brings you his first impressions.

14.03 | 0 komentar | Read More

Outlook for 10 day Monsoon Performance

Southwest Monsoon has been making a slow advancement after making a sluggish start this year. Nevertheless, according to the latest weather update rain is picking up now. Tropical cyclone 'Nanauk' had been restricting the actual outburst of Monsoon in India. Now that the system has weakened it lost its hold over the monsoon current, allowing free flow of westerly winds favourable for the Monsoon surge. Rain will gradually pick up from now on across the country. Here's an outlook of Monsoon performance in coming 10 days:

A small system developing in the Bay of Bengal in the form of a cyclonic circulation will enhance rain over the west coast of peninsular India. Monsoon rain will gradually pick up in Mumbai and the city will receive good showers next week. Intensity of rain over the interiors of South India will also increase gradually in coming 10 days. Southwest Monsoon will cover entire West Bengal, Bihar and touch east Uttar Pradesh by the 21st of June. Monsoon is still behind schedule as normally by the 15th it should have covered Bengal, Bihar and reached central parts of Uttar Pradesh. As of 13th June, the northern limit of monsoon (NLM) passes through- Ratnagiri, Agumbe and Madikeri in west coast, Chennai in east coast, And Coochbehar and Gangtok in Sub Himalayan West Bengal and Sikkim. The onset of Monsoon phase should normally witness significant rain and the actual outburst of Southwest Monsoon is expected in the coming week. Here's a look at the Monsoon performance from 1st to 10th June-

National - The national cumulative average Monsoon rain was deficient by a whopping 43% until the 10th June. Kerala and Karnataka- Monsoon rain over Kerala witnessed to be deficit by 40% while coastal Karnataka was deficit by 80%. Northeast India- Assam and Arunachal Pradesh were deficit by 25%. Nagaland, Manipur, Mizoram and Tripura have hardly received rain accounting for 80% deficit. Sub Himalayan West Bengal- This region has been witnessing good Monsoon showers and is surplus by 60%. In the next 10 days, rain will increase over the country but will fail to cover up the deficiency.By: Skymetweather.com

14.03 | 0 komentar | Read More

Havells India's AGM on July 09, 2014

Havells India Ltd has informed that the 31st Annual General Meeting (AGM) of the Company will be held on July 09, 2014.

To read the full report click here

14.02 | 0 komentar | Read More