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Hold LNT with one months view.

The RIL-RNRL KG Basin case is poised very interestingly with the MoU (Memorandum of Understanding) relating to Gas Supply Master Agreement (GSMA) coming into focus.

Tata Motors has suspended work on the Nano plant at Singur, reports CNBC-TV18. It will now start evaluating alternate options for Nano at other company facilities. Work on a detailed plan to relocate the plant and machinery to an alternate site has been started. Tata Motors is also exploring options to absorb people who have been recruited and trained in Singur. The project’s auto ancillary partners have also suspended work in Singur.

Hem Securities has recommended a buy rating on Orient Abrasives with a target of Rs 36 in its report on 30th Aug 2008. “Orient Abrasives’ principal activity is to manufacture abrasive grains, refractory and monolithic products. The Company operates in three segments namely Refractories and Monolithics, Oxide Grains and Bonded Abrasives. The company has posted excellent results for the quarter ended June 2008. On the other hand the expenditures have also increased by 20.92 per cent. Operating profit stood at Rs 207.70 million against Rs 66.29 million clocked in Q2FY08 portraying a whopping growth of 213.32 per cent and indicating the operational strength of the company.”

Karvy Stock Broking has recommended a buy rating on Kalpataru Power with a target of Rs 1030 in its report on 1st September, 2008. “Stringent regulation for road contracts could adversely impact aggressive bidders As per media reports, Road and Transport ministry has modified bidding regulation for road contracts, primarily to check cartelization. We believe it could be negative for aggressive infrastructure companies, having restriction in number of bidding. On the other hand, the competition (which is intense currently) is likely to moderate marginally and give some relief to margin of companies in this space. We believe Kalpataru Power Transmission (KPTL) through its subsidiary JMC projects is active player in infrastructure space. Hence the new regulation could adversely impact order book flow of the company in future. However, the order book of JMC projects is tilted towards building and industrial infrastructure. We retain our estimates of KPTL for FY09 and FY10 and rate it as buy with a price target of Rs 1030.”

Technical Analyst, Ashwani Gujral is of view that Oil & Natural Gas Corporation, ONGC looks most positive that could be headed back to about Rs 1,250-1,300.

Market is above 15000 points up by more than 550 points after crude fell below 106 dollar a barrel , this is like 4 month low or something for the crude oil.Thanks to hurricane Gustov which did not do much damage to the oil wealth .

Karvy Stock Broking has recommended buy rating on Lupin, with price target of Rs 930, in its report dated September 2, 2008.

According to ICICI direct.com report, Infosys Technologies has a target of Rs 2044.

Technical Analyst, Ashwani Gujral is of view that Unitech can go upto Rs 210-215.

Technical Analyst, Ashwani Gujral is of view that above Rs 700, Kotak Mahindra Bank can touch Rs 850.

Enam Securities has kept a buy rating on Brigade Enterprises with a target of Rs 230.