Edelweiss Research - March 14, 2011- stock in news and Sales Traders Commentary

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Stocks in News

§  Taxman says GTL admits evasion on 500 cr (DNA)

§  GAIL to raise $225 million through ECBs (DNA)

§  Reliance Infra hopes to bag 10% of highway projects (ET)

§  Bharti Won’t Buy Govt’s 30% Stake in Hexacom (ET)

§  Amara Raja a good bet on rising OEM play (DNA)

§  Robert Vadra ties up with DLF, makes low-key entry into Real estate business (ET)

Sales Traders Commentary

§  On Friday, the equity benchmark closed lower, extending losses for the second straight day. Markets settled on a disappointing note due to the Japan earthquake. Profit booking was seen in Metals, IT, Power, Capital Goods and Financial stocks.

§  The Sensex closed at 18174, down 153 points, while the Nifty slipped 49 points to 5445.

§  Major gainers were Oil & Natural Gas Corporation (2.14%), Reliance Industries (0.73%), Tata Power Company (0.55%), Hindustan Unilever (0.42%), and I T C (0.15%).

§  Major losers were Bharat Heavy Electricals (3.64%), Reliance Communications (3.46%), Reliance Energy (3.19%), Sterlite Industries (India) (3.06%), Jaiprakash Associates (2.90%), and Tata Consultancy Services (2.89%).

§  The Oil & Gas index was up 0.81%. Major gainers were Oil & Natural Gas Corporation (2.14%), Hindustan Petroleum Corporation (1.66%), Oil India (1.62%), Petronet LNG (1.03%) and Bharat Petroleum Corporation (0.31%).

§  The Metal index was down 1.91%. Major losers were JSW Steel (3.94%), Hindustan Zinc (2.55%), Hindalco Industries (1.65%), Jindal Steel & Power (1.3%) and Jindal Saw (1.08%).

§  The TECk index was down 1.61%. Major losers were Mphasis (4.77%), Reliance MediaWorks (4.66%), Dish TV India (3.31%), Bharti Airtel (2.08%) and Idea Cellular (1.94%).

§  The IT index dipped 1.49%. Major losers were Mphasis (4.77%), Oracle Financial Services Software (2.05%), Infosys Technologies (1.07%), H C L Technologies (0.5%) and Core Projects and Technologies (0.06%).

§  Major losers in the mid-cap space were A B G Shipyard (3.08%), Aban Offshore (3.08%), A2Z Maintenance & Engineering Services (2.62%), Alstom Projects India (2.57%) and A I A Engineering (0.9%).

§  Major losers among small caps were Provogue (India) (3.04%), Action Construction Equipment (3.02%), A K Capital Services (2.89%), Aarti Industries (1.87%) and Abhishek Industries (1.32%).

§  Globally, Asian indices ended nagative, while Europe indices were trading lower.