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Source:- www.indianmoneyplus.com

BSE Sensex: (14324) we said ‘now the market is at Make or Break levels’ and the market cracked…so far no sign of strength but the internal structure is suggestive that there could be a bounce back…will it?

“I G Petrochemicals Ltd” at current price looking good. It may Possibility to cross Rs.50 Soon.

Auto major Tata Motors on Thursday denied it has asked its vendors in West Bengal to send components for its Nano small car to its Pune facility.

Sandeepa Arora of India Infoline sees the Nifty trading ranged between 4,200 and 4,500. “The index can bottom out at 4,000 if there isn’t any extremely bad news on the global front. The environment will continue to remain bad. We are seeing stock specific investments. The broad market conviction remains poor.”

Motilal Oswal has maintained neutral rating on Tata Motors, in its report dated September 2, 2008. “Total volumes in Aug’08 declined by 3.4% to 43576 vehicles, with domestic volumes declining by 3% and exports declining by 6%. YTD volumes registered marginal growth of 0.7%, as domestic YTD volumes grew by 3.7% but impacted by 24% decline in exports. Our current estimates are based on 20.4% volume growth (v/s YTD growth of 0.7%), implying residual growth of 31.9%. At our current estimates, the stock trades at 8.5x FY09E consolidated EPS of Rs 50.3 and 7.3x FY10E consolidated EPS of Rs 59.2. Maintain Neutral,” says Motilal Oswal research report.

LKP Shares has maintained its buy rating on Varun Shipping Company with a target of Rs 96 in its report. “We expect VSL to post an EPS of Rs 11 and Rs 13 for FY09E and FY10E respectively. Effective asset deployment and equivalent depreciation merit attention to cash EPS numbers at an expected of Rs 29 and Rs 32 for FY09E and FY10E. With a NAV of Rs 110, the stock is trading at a discount of 39% to its NAV. A further upside in revenues due to completion of fleet addition plan can be envisaged. We re-iterate our Buy on the stock with a revised target of Rs 96, giving an appreciation of 37% over a medium term perspective with low risk,” says LKP Shares’ research report.

Technical Analyst, Rajat K Bose is of the view that Oil and Natural Gas Corporation, ONGC has support between range of Rs 991-1010.

Motilal Oswal has maintained buy rating on Mahindra & Mahindra, in its report dated September 2, 2008.

Motilal Oswal has maintained buy rating on Maruti Suzuki, in its report dated September 2, 2008.

Motilal Oswal has maintained its buy rating on Hero Honda in its September 2, 2008 research report. “Hero Honda volumes increase 26.8% YoY to 305,516 units, in-line with our estimates and the strongest growth among all two-wheeler companies. YTD volumes grew by 19% to 1,481,077 units. Motorcycle volumes grew by 28% YoY to about 293,000 units and YTD growth of 19%. Also, scooters registered about 4% volume growth to about 12,000 units and YTD growth of 30.5% to about 49,800 units. Our FY09 estimates factor in a 8.1% volume growth, implying a 1.7% residual growth. We are in the process of reviewing our volume estimates. Based on our current estimates, the stock trades at 15.1x FY09E EPS of Rs 56.6 and 13.4x FY10E EPS of Rs 64. Maintain Buy.” According to Motilal Oswal report.

Technical Analyst, Rajat K Bose is of the view that one can buy IFCI with target of Rs 51-53.