Voices from the Market- 15 April 2008

Trading day: Tuesday, 15 April

4:05 PM - Good global cues and heavyweight Infosys' results, which were in line with market expectations, kept the market perked up for most of the day. Sensex closed at 16,153, up 346 points from the previous close. Nifty shut shop at 4879, up 101 points. It was a fairly good day for the midcaps and smallcaps as well; both CNX Midcap and BSE Smallcap indices, gained 1.5% each. Buying was seen across the board, but the most popular were IT, healthcare, consumer durables and oil & gas stocks. Top Sensex gainers include Ranbaxy, TCS and Infosys, while losers are Hindalco, HDFC Bank and Ambuja Cements, among others.

4:00 PM - In the capital goods space, L&T has target price of Rs 4,300 or so in the next 12-15 months, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz. BHEL can go up to Rs 2,700 in the next 12 months, he adds.

3:52 PM - It is important for JK Tyres to sustain above Rs 132, says Ashwani Gujral, technical analyst, on CNBC Awaaz. If it does, then Rs 150 is possible here, he adds. The stock has support at Rs 104, he says. It is at Rs 121.70, up 4.6% on the BSE.

3:45 PM - Ranbaxy can go up to Rs 550, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is at Rs 481, up 8.4% on the BSE.

3:38 PM - By November-December this year, Reliance Industries can go up to Rs 3,400-3,500, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz. The stock is at Rs 2,625, up 2.9% on the BSE.

3:30 PM - It was a good day for the market, which closed near the day's high! Sensex ended the day at 16,208, up 401 points (provisional) from the previous close. Nifty shut shop at 4895, up 118 points (provisional). CNX Midcap index gained 1.5% (provisional) over the day.

3:25 PM - SICAL Logistics has support at Rs 130 and will face resistances at Rs 194 and Rs 220, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Going to earlier highs will be difficult for this stock, he adds. It is currently trading at Rs 175.50, up a whopping 20% on the BSE.

3:19 PM - Traders should carry Nifty long positions with a stoploss of 4820, says Rajat Bose, techical analyst, as a closing market strategy, on CNBC-TV18. He advises buying i-flex and Mindtree.

3:13 PM - Infosys now has a year's target of Rs 2,000-2,050, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz. This might be a beginning of a rally in the IT sector, but it may not take the stocks to earlier highs, he says. Expect 25-30% movement from here in a year's time, he adds.

3:06 PM - As long as Reliance Industries stays above Rs 2,325, it is a strong stock, says Ashwani Gujral, technical analyst, on CNBC Awaaz. One can look at buying the stock close to this support level, he suggests. Ont he upside, one can look to book profits close to Rs 2,650, he adds. It is currently trading at Rs 2,614, up 2.5% on the BSE.

2:58 PM - Sensex is currently trading at 16,133, up 326 points from the previous close. Nifty is at 4877, up 99 points. CNX Midcap index is up 1.5% and BSE Smallcap index, up 1.3%.

2:54 PM - Infosys has been rangebound between Rs 1,300-1,550 and if it sustains above Rs 1,550, then expect it to go to Rs 1,750-1,800, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1,509, up 6.2% on the BSE.

2:47 PM - Bombay Dyeing has limited downside, says Hemen Kapadia, technical analyst, on CNBC Awaaz. If it can close above Rs 651 with good volumes today, then the upside in the stock will sustain, he adds. Expect 5-7% upside in the near term, he adds. The stock is currently trading at Rs 693.20, up over 14% on the BSE.

2:40 PM - One should play the range now, says Ashwani Gujral, technical analyst, on CNBC-TV18. So whenever the Nifty goes past 4800, look to book your profits, he suggests.

2:33 PM - KLG Systel is a good stock to invest in and it has a one-year target of Rs 820, says Ashish Kapoor, CEO, Investshoppe, on CNBC Awaaz. The stock is currently trading at Rs 675.15, up 6.2% on the BSE.

2:25 PM - The market is off the day's high, but still holding firm. Sensex is currently trading at 16,192, up 384 points from the previous close. Nifty is at 4892, up 114 points. All sectoral indices are trading higher. Market breadth is strong, with 878 advances against 347 declines on the NSE.

2:20 PM - One can buy ABG Shipyard with the target price of Rs 1,100-1,200, says Vikas Sethi, MD, Sethi Finmart, on CNBC-TV18. The stock is currently trading at Rs 620, up 1.7% on the BSE.

2:12 PM - Puravankara Projects has support at Rs 234 and has a near term target of Rs 300-310, says Hemen Kapadia, technical analyst, on CNBC Awaaz. It is in a short term uptrend for now. The stock is currently trading at Rs 266, up over 10% on the BSE.

2:04 PM - Mphasis can be a good buy below Rs 200, says Hemen Kapadia, technical analyst, on CNBC Awaaz. On the upside, it might face resistance at Rs 230-232, but once this is crossed, it can go up to Rs 241, he adds. The stock is currently trading at Rs 228.90, up over 8% on the BSE.

1:58 PM - The IT space is roaring today! The most popular are Mphasis (up over 8%), TCS (up 7.7%), Infosys and Wipro (both up over 6%) on the BSE.

1:47 PM - Sensex is currently trading well above 16,000 at 16,205, up 397 points from the previous close. Nifty is at 4892, up 115 points.

1:39 PM - Citigroup has a target price of Rs 187 on GMR Infra, reports CNBC-TV18. The stock is currently trading at Rs 143.80, up over 1% on the BSE.

1:30 PM - One should stay invested in Dish TV and if possible, even buy more at lower levels, says Rajesh Tambe of Sunchan Securities, on Zee Business. By 2009, the company should be performing well and the stock performance will show that, he adds. It is currently trading at Rs 51.65, up 1.8% on the BSE.

1:23 PM - It is not yet the right time to invest into IT stocks, says Rajesh Tambe of Sunchan Securities, on Zee Business. The IT sector as a whole has peaked out and it will take time to really breakout again, he adds.

1:18 PM - It is advisable to exit LML now, says Rajesh Tambe of Sunchan Securities, on Zee Business. Do not stay invested or buy the stock on the company's landbank, he suggests. The stock is currently trading at Rs 12.55, up 3% on the BSE.

1:08 PM - Dena Bank is one of the best banks among the midcap PSU banks and one should stay invested in it for another 1-1.5 years, says Rajesh Tambe of Sunchan Securities, on Zee Business. Once the global concerns are over, the stock can go up to Rs 100-150, he adds. The stock is currently trading at Rs 53.25, up 0.7% on the BSE.

1:01 PM - The market is gaining strength fast! Sensex is now at 16,114, up 307 points from the previous close. Nifty is at 4878, up 100 points. CNX Midcap index is up over 3%, and BSE Smallcap index, up 1.1%. All sectoral indices are trading higher, led by the BSE IT index, up a good 5.4%.

12:53 PM - Goldman Sachs has a target price of Rs 5,400 on Aban Offshore, reports CNBC-TV18. The stock is currently trading at Rs 3,378, up 2.4% on the BSE.

12:46 PM - Merrill Lynch has a 'buy' rating on NTPC, but has lowered the target price to Rs 225 from Rs 242, reports CNBC-TV18. It is currently trading at Rs 189.25, up 1.5% on the BSE.

12:39 PM - The Nifty may consolidate between 4500 and 5000 for the next 3-4 months, says an expert from Edelweiss, on CNBC-TV18. For now, the market is gaining strength and the Sensex is trading at 16,038, up 231 points from the previous close. Nifty is at 4855, up 77 points.

12:32 PM - DLF has support at Rs 580 and if it falls below this, then it can mean bad news for the stock, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. On the upside, it will face major resistance at Rs 700 in the short term, he adds. But one can continue to hold the stock for now, as the market is expected to recover a bit from here, he suggests.

12:25 PM - JP Morgan is overweight on Infosys and has a target price of Rs 1,875 on the stock, reports CNBC-TV18. The stock will trade sideways in the near term on US economy concerns, says the brokerage. The company will meet the guidance, but outperformance depends on demand, it says. The stock is currently trading at Rs 1,501.35, up 5.6% on the BSE.

12:17 PM - Sensex is seen at 18,000 by January-March next year, says SA Narayan, MD, Kotak Securities, on CNBC-TV18.

12:10 PM - KEC International has won power grid contracts worth Rs 155 crore in Kerala. The stock is currently trading at Rs 590, down 1.2% on the BSE.

12:01 PM - The market is trading slightly higher than most Asian markets. Sensex is currently at 15,683, up 55 points from the previous close. Nifty is at 4802, up 24 points. BSE Midcap index is up 0.5% and BSE Smallcap index, up 0.7%. IT stocks, along with healthcare, are attracting buying, whereas metal and banking stocks are witnessing some selling pressure.

11:53 AM - Fresh buying into Infosys is not recommended at current levels, says Gaurang Shah of Geojit Financial Services, on CNBC Awaaz. The management has agreed that it might see a slowdown in revenues, he says. Therefore, one can look at booking profits at higher levels and then wait for 1-2 quarters for some more clarity, he suggests.

11:46 AM - IT heavyweights like Infosys, TCS and to some extent, Satyam, still seem to be in a downtrend, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It is not advisable to invest in them at current levels, he adds.

11:38 AM - One can look at averaging DLF close to Rs 600, says Gaurang Shah of Geojit Financial Services, on CNBC Awaaz. But have a minimum view if 1-1.5 years here, he suggests. The stock is currently trading at Rs 613.95, up 2.7% on the BSE.

11:31 AM - Satyam has support at Rs 380 and will face resistance at Rs 465, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 445.85, up 2.9% on the BSE.

11:22 AM - Suzlon is one of the cheapest stocks available in the alternate energy space, says market expert Jagdish Thakkar, on Zee Business. It can be a very good pick for the long term, he suggests. It is currently trading at Rs 296.85, up 2.2% on the BSE.

11:16 AM - If you have 1-1.5 years' view, then Ranbaxy can be a good pick in the pharma sector, says market expert Jagdish Thakkar, on Zee Business. The stock is currently trading at Rs 456.60, up 2.9% on the BSE.

11:09 AM - The results and guidance by Infosys was all in line with expectations, says Harit Shah of Angel Broking, on CNBC Awaaz. One can look at buying the stock on declines, with a target price of Rs 2,000, he adds.

10:56 AM - Infosys' results have given a boost to the IT sector today. The BSE IT index is up over 3%, led by heavyweights like Infosys (up over 3%), TCS (up over 3%) and Wipro (up over 2%).

10:50 AM - The market is trading slightly lower. Sensex is at 15,746, down 61 points from the previous close. Nifty is at 4769, down 8 points.

10:32 AM - The market recovers with Infosys results being in line with expectations. Sensex is trading at 15803 down 3 points and Nifty is trading at 4778, up one point, reports CNBC TV18. The market breadth is positive with advances at 591 against declines of 483 on the NSE.

10:22 AM - L&T has bagged an order of Rs 2,000 crore for the development of Bombay Dyeing Mills, reports CNBC TV18

10:19 AM - Infosys has a price target of Rs 1,950, says R Ravi of Karvy Stock Broking on CNBC TV18. The stock is up 4.11% since results have been announced and is trading at Rs 1,480 on the BSE. Infosys guidance: FY09 revenues at $5 billion, FY09 sales between Rs 19,890 crore versus Rs 20,214 crore, EPS between Rs 92.32 - Rs 93.92. The company has raised dividend payout to 30% from 20% and has added 5,947 employees in Q4, ends with 91,187 employees.

10:11 AM - Infosys results in line with expectations, says Angel Broking on NDTV Profit. Infosys guidance is not satisfactory, it is below expectation says Macquire.

10:07 AM - Infosys FY08 sales are up 20% at Rs 16,692 crore versus Rs 13,893 crore, PAT is 20% up at Rs 4,659 crore versus Rs 3,856 crore, reports NDTV Profit.

10:03 AM - Weak global cues have seen a weak opening for the Indian market today. Sensex is trading at 15604, down 202 points and Nifty is at 4721, down 55 points from the previous close.