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Company updates
Larsen & Toubro (LT IN; Rs790; Buy) – announced large order wins
L&T announced three large order wins totaling Rs16bn yesterday.
1) Rs7bn order from HPCL-Mittal refinery in Bhatinda – Follow-up order for hydrogen
generating units.
2) Rs3.6bn order for urban water supply project from Delhi Jal Board.
3) Rs5.8bn order for urban water supply project from Hyderabad.
Read full reports L&T(ABN.AMRO)
VST Tillers Tractors (VSTTL) is a Bangalore-based farm equipment manufacturer
of power tillers and low horse power (HP) (sub 20 HP) tractors with three
factories in Karnataka: Bangalore, Mysore and Hosur.
Tractors and tillers offered by VSTTL find application in dry tilling, cultivating,
deweding, water pumping, ploughing, riddging, wet pudlling and transportation
of goods. The Diesel engines find application in the manufacture of tractors and
tillers.
Power tiller is the two-wheeled version of the tractor is meant for farmers with
smaller land holdings and for those who cannot afford expensive tractors (cost of
the tiller is almost one-third of the tractor cost).
To read full report VST Tillers Tractors(Sunidhi)
Market opened on a positive note, with the Sensex higher
by 200 points and Nifty up by 60 points. The market was
volatile all through the day with a low of 8,442 and closed
at the day’s high of 8,970. Bulls filled the bearish gap,
which was a crucial resistance at 8,726 and gave a close
above this level. Nifty has given a close above 20-hourly
moving average, ie 2,640, which is a positive sign going
forward. The momentum indicator on the daily chart is
on the verge of giving a positive crossover, but is trading
below the zero line. The 20- and 40-day moving average
is at 9,466 and 10,621 respectively for the Sensex, which
are strong resistances on the upside. Further, good support
levels are around 8,600 and 8,400. The market breadth
was positive with 6,42 advances and 47 declines on the
NSE and with 1,186 advances and 1,311 declines on the
BSE. Our short-term bias is up with support at 8,700 and
target at 9,175.
To read full report Eagleeye(SHAREKHAN)
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