>11112008(ANAGRAM)

Markets snapped two days of rally and saw sharp cuts in today’s trade. Sensex plunged 696 points to close at 9839, while Nifty shut shop at 2938, losing 209 points. Indian markets lost the most among all the Asian markets. Rupee closed at 48.12 against the dollar as against yesterday’s close of 47.38. September Index of Industrial Production (IIP) data will be announced tomorrow and is expected to show a growth of 3.6% as against 1.3% for the previous month.

All the sectoral indices finished in red. BSE Realty and Metal indices were down the most, losing 10.2% and 8.4% respectively. ITC was the sole gainer among the sensex stocks, up merely 0.06%, while JP Associate and Sterlite lost 12.2% and 11% respectively. BSE advance-decline ratio stood at 1:2.3.

To read full report 11112008(ANAGRAM)

>BHEL Q2(anagram)

Stock has corrected 50% from its peak and trading at 16x FY10E earnings provides long term investors an attractive entry point. We are keeping our estimates unchanged and are quite confident about its FY09E and FY10E earnings.

At CMP, stock trades at 21x FY09E and 17x FY10E earnings with an EPS of Rs.72 and Rs.89 Respectively. We recommended Accumulate rating on the stock

Read full report here BHEL Q2(anagram)

>Technical & Derivative Recommendations(EMKAY)

Read full report here

Technical & Derivative Recommendations(EMKAY)

>Currency corner(ANAGRAM)

Read the full report here

Currency corner(ANAGRAM)