Merrill Lynch
India Research
IVRCL Infrastructures (IIFRF)-Reiterate BUY with a PO of Rs 421
Our PO of Rs 421 is based on the SOTP valuation. We have valued IVRCL core construction business 12x estimated 1 year forward earnings, a 25pct discount to E&C majors at Rs304 per share.
MUMBAI: Shares of IVRCL Infrastrcuture & Projects gathered momentum Tuesday after it announced that the buildings and industrial division of the company bagged orders worth Rs 746.26 crore.
President Bush has not endeared himself to the world during his Presidency…90% of his Presidency was post 9/11 and protecting America was his first goal and removing threats to America was his second goal. In time we will know the success or failure of his administration.
Sell RELIANCE Target: 1322, 1310 SL: 1335
Sell ICICI BANK Target: 408,404 SL: 418
Sell RCOM Target: 231,224 SL: 238
Buy RELIANCE 1281, Target: 1292, 1300 SL: 1276
Sell Nifty2900CE Target: 120,105 SL: 136
Indian markets are trying to consolidate and push up beyond the Nifty 3000 level. Global markets are also bouncing off lows in October and November. This is supported by technical factors and may prevail in the short-term, but we need specific drivers to sustain an up-move.
Hat tip Mala: * In the working-class community of Weymouth, south of Boston, Easter’s Country Kitchen, a crowded little diner, captured the mood in a notice near the food counter:
There are so many articles on global growth depending on Asia; so I went looking for corroborating evidence…it turns out that the “engine of growth” is sputtering. China GDP growth will halve and still represent 80% of global GDP growth in 2009. However, there is nothing to suggest that Asia is suddenly going to become a monothic group of consumers.
Source - IndianMoneyplus.Com US markets were trading choppy yesterday.
Europe ended flat. Asia has opened marginally lower.
I expect Indian markets to open lower.
Banking and Infra stocks can see a rally today.
BSE Sensex: (9832) the market managed to inch towards the psychological 10000 mark and felt shy and has closed positive for the day and in the process generated an indecisive bar …technically the trend is still intact up but the market is expected to be volatile and profit near the 10000 mark is not ruled out.
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