Archive for August, 2009

Currentopics.com

Market Guru

Nitin Gupta

Full Name : Nitin Gupta

Designation: Managing Director

Company Name: Gupta Consultancy Services

Experience in stock market: 9 years

Company Profile: Portfolio management Services 

Today’s Call

 

 Buy Rolta

rolta-100

The company’s future prospects are becoming brighter with the various orders in hand and improving yearly and quarterly performance. Presently, the company is running at a P/B multiple of 2.02x to it’s FY09 book value of Rs.88.42 while the P/E multiple of the company is running at 9.77x to its FY09 EPS of Rs.18.25. However, the industry is running at a P/E multiple of 19.30x which leaves the stock with a significant upside potential. I recommend a strong buy on this stock with a short term target of 220 by maintaing a stoploss of 170.

 

 Buy Cairn India

cairn

The stock is testing a key resistance above the current level and it has seen volume expansion in the past week. If it closes above rs 265 it has the potential to go till 290 to 300. Keep a stop loss of 255 and go long . Increse the position above 265 and book profits above 290. One can even take the long positions in the options segment by taking up the call options of 270 and 280 strike price.

 

Buy Praj Industries

untitled

The stock has seen a massive volume expansion coupled to the completion of a bullish breakout. It has a potential target in the range of 115 to 120. Keepa stoploss of 99 and go long. The stock may face a major hurdle at 108. One can increase the above the levels of 108.

 

Levels for Nifty

level of nifty

Nifty has finally managed to close above the support levels of 4650. I expect the market to open on a flat note on Tuesday.the support levels for nifty are 4650 and 4600. The major hurdles will be 4700 and 4744. I expect the nifty to cross the 4850 mark this week.

 

 

 

 

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Disclaimer : These Recommendations are based on technical analysis and Personal observations. Due care has been taken while preparing these comments, no responsibility will be assumed by the author for the consequences what so ever, resulting out of acting on these recommendations.

Disclosure : The calls made herein are for informational purposes and are not recommendations to any person to buy or sell any securities. The information is derived from sources that are deemed to be reliable but its accuracy and completeness are not guaranteed. The above calls are based on the theory of technical analysis. The author does not accept any liability for the use of this site. Readers of this site who buy or sell securities based on the information.

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The Election Commission on Monday announced that three states? Maharashtra, Haryana and Arunachal Pradesh would go to polls on october 13

At a press conference  on Monday, Chief Election Commissioner Navin Chawla, along with the other commissioners, gave out details regarding the assembly polls in the three states.

Day of counting has been fixed on October 22.

Chawla said that the model code of conduct comes into effect from today.

He added that “The decision has been taken after considering the all the factors including public holidays, academic calendar, climatic conditions, time required to deployment of forces etc.”

 The voting will be done through Electronic Voting Machines (EVMs). Use of any religious place for election campaigning and seeking votes on the basis of religion or Jaati will amount to violation of code of conduct for elections, the CEC said. The notification of the election would be issued on September 18, the last day for filing of nomination will be September 25, scrutiny of nomination will be held n September 26, and the last day for withdrawing of nomination will be September 29. The election process will complete on October 25.

chandrayaan-1-launch-2

The Chandrayaan 1 spacecraft, India’s first unmanned mission to the Moon, is seen as it is unveiled at the Indian Space Research Organisation (ISRO) Satellite Center in Bangalore. Scientists at India’s national space agency said Saturday that all communication links with the country’s only satellite orbiting the moon have snapped and they were unable to send commands to the spacecraft. Radio contact with Chandrayaan-1 spacecraft was abruptly lost.

India’s first moon mission Chandrayaan-I, came to an abrupt end early on Saturday, as the spacecraft lost the radio link with earth at 0130 hours

ISRO’s Deep Space Network near Bangalore received the data from the spacecraft up to 0025 hours after which it lost contact with earth. The spacecraft was launched in the moon’s orbit from ISRO’s Satish Dhawan Space Centre Sriharikota on October 22, 2008.

“We have lost contact with the spacecraft and the mission is over,” Project Director of the Chandrayaan-1 mission M Annadurai said. Indian Space Research Organisation (ISRO) however claimed that the moon mission had achieved most of its objectives.

“Chandrayaan-1 has done its job technically about 100%. Scientifically, it has done almost 90-95% of its job,”Mr Annadurai added.

The spacecraft had completed 312 days in orbit making more than 3400 orbits around the Moon. “Chandrayaan I provided large volume of data from sophisticated sensors like terrain mapping camera, hyper-spectral imager, moon mineralogy mapper etc, meeting most of the scientific objectives of the mission,” ISRO said in a statement on Saturday.

Last month, ISRO Chairman G Madhavan Nair had said that the organisation was thinking of aborting the mission in 4-5 months, even as the 1,380 kg spaceracft developed a snag in its sensor. Chandrayaan-1 carried 11 instruments on board, including six from overseas.

The Chandrayaan-1 mission was launched with a budget of $86 mn, almost half the cost of China’s Chang’e 1 mission ($187 mn) and just about a fifth of Japan’s Kayuga ($480 mn). India is now planning to launch a second moon mission – Chandryaan II, for which the design has already been completed.

26/11 key witness missing

htaj

A key witness of the November 26, 2008 terror attack on Mumbai, in which more than 160 people lost their lives and more than 300 were injured, is being reported as missing.

According to a television channel report, Nuruddin Mehboob Shaikh was called for questioning by Mumbai police, but when he did not turn up, he was declared missing. He has been reported missing since 6.30 a.m. this morning and was to be cross-examined in court.

Shaikh has emerged as a key witness in the wake of him saying that he had seen the maps of Mumbai prepared by terror suspect Fahim Ansari.

Shaikh, a Mumbai driver, claimed to know Ansari and has admitted that he was in his room in Nepal, and witnessed to many an incriminating episode there. He deposed before the special sessions court on Thursday.

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Former President Dr. A.P.J.Abdul Kalam on Thursday rejected senior DRDO scientist Dr. K. Santhanam’s claims that the Pokhran II nuclear tests held in the month of May 1998 were partially successful.

Kalam, who spearheaded India’s nuclear programme then, came out in the open asserting that the test was successful. With Santhanam holding his ground and other scientists weighing in with their versions, a vigorous debate raged through the day on whether Pokharan II was indeed as successful as was claimed.

“There was a detailed review, based on the two experimental results: first, the seismic measurement close to the site and, second, radioactive measurement of the material after post-shot drill on the test site. It has been established by the project team that the design yield of the thermonuclear test has been obtained,” said Kalam, scientific advisor to the defence ministry when the test took place.

R Chidambaram, who led the team of scientists who conducted the tests, also described Santhanam’s claim as absurd.

the hydrogen bomb test was not more than 50-60% successful in terms of the yield it generated. He was supported by prominent nuclear scientists including P K Iyengar, a player in Pokhran I, who said Santhanam was only stating the truth, but Kalam sought to end the controversy by saying that the desired yield had been obtained.

The dispute is significant from the point of view of whether the country needs to conduct more tests – an option that has become expensive because of the nuclear cooperation deals with the US and other countries and which may disappear altogether if the country acquiesces to the growing pressure for Comprehensive Test Ban Treaty (CTBT).

Santhanam had said that the test was a fizzle because the actual yield was much lower than what was claimed. He told TOI on Thursday that the thermonuclear device test was only 50-60% successful.

Kalam certifies Pokharan II, Santhanam stands his ground The claim of K Santhanan, former DRDO scientist who was in-charge of Pokharan II, that the thermonuclear device tested in 1998 was a

 

 

fizzle detonated a full-scale row on Thursday, with former President A P J Abdul Kalam refuting the statement of his former colleague.

Kalam, who spearheaded India’s nuclear programme then, came out in the open asserting that the test was successful. With Santhanam holding his ground and other scientists weighing in with their versions, a vigorous debate raged through the day on whether Pokharan II was indeed as successful as was claimed.

“There was a detailed review, based on the two experimental results: first, the seismic measurement close to the site and, second, radioactive measurement of the material after post-shot drill on the test site. It has been established by the project team that the design yield of the thermonuclear test has been obtained,” said Kalam, scientific advisor to the defence ministry when the test took place.

R Chidambaram, who led the team of scientists who conducted the tests, also described Santhanam’s claim as absurd.

However, an undeterred Santhanam told TOI on Thursday that the hydrogen bomb test was not more than 50-60% successful in terms of the yield it generated. He was supported by prominent nuclear scientists including P K Iyengar, a player in Pokhran I, who said Santhanam was only stating the truth, but Kalam sought to end the controversy by saying that the desired yield had been obtained.

The dispute is significant from the point of view of whether the country needs to conduct more tests – an option that has become expensive because of the nuclear cooperation deals with the US and other countries and which may disappear altogether if the country acquiesces to the growing pressure for Comprehensive Test Ban Treaty (CTBT). 

Santhanam had said that the test was a fizzle because the actual yield was much lower than what was claimed. He told TOI on Thursday that the thermonuclear device test was only 50-60% successful.

“I can’t recall the exact number but it wasn’t more than that. My assessment is based on the report by the programme coordinator and also the instrumentation data,” said Santhanam, adding that he would take statements about India having enough deterrence, including the one made by Navy chief Sureesh Mehta on Thursday, with a kiloton (KT) of salt. DRDO was responsible for the instrumentation work in the tests and Santhanam was DRDO’s main man in the whole exercise.

While Navy chief Mehta said on Thursday that India had enough nuclear deterrence, Brajesh Mishra, who was NSA in 1998, said that Kalam himself had certified the test result and it “set the record straight”.
Santhanam stood his ground though. “I can’t stop anybody from taking names. It is his perspective. My observation has a scientific and technological basis to it,” he said.