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Balaji Telefilms
Cluster: Emerging Star
Recommendation: Buy
Price target: Rs268
Current market price: Rs148.7

Balaji denies GEC launch

Key points

BSE Sensex: (13693) we said ‘but a bounce to around 13800 is possible’ and the market bounce to a high of 13840…now the market is looking desperately for a direction and the points to watch would be 13540 and 13840…

Sun Pharmaceutical Industries
Cluster: Ugly Duckling
Recommendation: Buy
Price target: Rs1,640
Current market price: Rs1,500

USFDA nod for generic Carboplatin

MUMBAI: Prabhudas Lilladher has maintained ‘buy’ on IVRCL for a target price of Rs 308, an upside of 23.3 per cent from current level.

HONG KONG: Tata Motors, India’s top vehicle maker, plans to open its Rs 4150 crore($914 million) rights issue on Sept 29, for shareholders on record as of Sept 16, according to a term sheet obtained by Reuters.

With the automobile market in the US going through a downturn, it’s not surprising that the Jaguar and Land Rover (JLR) business that Tata Motors acquired recently isn’t in great shape. For the first half of 2008, JLR has posted losses of $ 383 million on sales of $ 7.07 billion, a disclosure that saw the Tata Motors stock fall 5 per cent on September 23.

Sharekhan has kept a buy rating on Punj Lloyd with a target of Rs 532, reports CNBC-TV18.

Motilal Oswal has kept a buy rating on Reliance Industries with a target of Rs 2733, reports CNBC-TV18.

Tim Rocks, Equity Strategist, Macquarie, does not see a bottom in place for global markets.

Rocks feels markets would continue to drift. “The problems in India is that analysts’ expectation of earnings are really too high. So, one will see a number of companies, if not a vast majority of companies, miss the very bullish forecast that the analyst community have at the moment.”

The bulls snapped their two-day losing streak on Dalal Street, but the market sentiment remained cautious ahead of expiry. The Nifty closed at 4,161 up 34 points, while the Sensex shut shop at 13,692 up 122 points.

ICICI Securities has ket a buy rating on Chambal Fertilisers and Chemicals with a target of Rs 115, reports CNBC-TV18.

Macquarie Research has maintained its outperformer rating on Reliance Industries with a target price of Rs 2780, reports CNBC-TV18.