Intraday Buy Call For IDFC

Technical analyst Ashutosh Sarna has maintained 'buy' rating on Infrastructure Development Finance Company Limited (IDFC) stock with a target of Rs 155.

Mr. Sarna said that the investors can buy the stock with a stop loss of Rs 143.

The shares of the company, on March 23, closed at Rs 148.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 218.20 and a low of Rs 124.70 on BSE.

Current EPS & P/E ratio stood at 8.37 and 17.83 respectively.

Infrastructure Development Finance Company (IDFC) has decided to lift up 250-crore long-run capital as it has no time left for mobilizing extra funds via tax-saving retail bonds.

The company has mobilized approximately 1,500 crore through selling bonds to tax payers in three portions, 56% below what it had directed to lift up through retail bonds.

As per market sources, this has perhaps encouraged IDFC to make entry in the private placement subordinated debt market before the end of existing financial year.

IDFC is positive of tripling the volume of its balance sheet by the next 3-4 years.

The moderation in expansion in Q3FY11 was because of advanced base in H1FY11 and valuation dynamics being unfavorable owing to lower credit spreads.

Long Term Buy Call For Axis Bank

Technical analyst Anu Jain has maintained 'buy' rating on Axis Bank Limited stock with a target of Rs 1392.

Mr. Singh said that the stock can be purchased with a strict stop loss of Rs 1250.
Today, the stock of the bank opened at Rs 1313.40 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1608 and a low of Rs 1135 on BSE.
Current EPS & P/E ratio stood at 76.44 and 17.30 respectively.
Idea Cellular and Axis Bank made announcement about a mobile-based financial inclusion scheme, 'Idea MyCash', in Mumbai.

The newly launched scheme will permit transfer of funds on the mobile platform.
Other banking services, like cash withdrawals, balance inquest and deposits, will also be available.
Axis Bank and Idea inked a MoU during December last year under the sphere of financial inclusion.
Mr. Ambrish P. Jain, director (operations), Idea Cellular stated, "Authorised Idea retail outlets will act as customer service points (CSPs). At present, we have 20 authorised retailers each in Dharavi and Allahabad. Any Idea service holder can walk to these retailers to open an account with Axis Bank."
The overall rustic population in the country is 74.25 crore, out of which 18.5 crore inhabitants are unbanked but bankable adults, whereas the overall population in the urban regions stood at 28.61 crore out of which 8.08 crore are unbanked urban poor.

Buy Great Eastern Shipping With Stop Loss Of Rs 252

Technical analyst Brijesh Singh has maintained 'buy' rating on Great Eastern Shipping Company Limited stock with a target of Rs 270.

Mr. Singh said that the stock can be purchased with a stop loss of Rs 252.

The stock of the company, on March 23, closed at Rs 257.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 393 and a low of Rs 246 on BSE.

Current EPS & P/E ratio stood at 29.67 and 8.75 respectively.

Sheths of Great Eastern Shipping have deployed part of the cash generated from their customary shipping biz to swell their offshore biz with Singapore as the center for worldwide functioning.

Greatship (India), offshore services firm set up in the year 2006 instantly after a break up between Ravi and Bharat Sheth and their cousin Vijay Sheth, has recently launched business HQ in Singapore to magnetize professionals and international biz opportunities.

Mr. Ravi KSheth, MD, Greatship (India) stated, "We have to derisk ourselves from the capital-intensive shipping business and focus on something which relies more on human capital. That is why we are betting big on offshore business. Singapore has the right infrastructure to build a global company."

Great Eastern Shipping Company recorded a slight increase in its standalone net profit for the three month period ended December 2010.

During the said period, the company's profit surged 5.58% to Rs 795.00 million as against Rs 753.00 million during the corresponding quarter last year.

The company registered an EPS of Rs 5.22 during the quarter.

Buy IDBI Bank To Achieve Target Of Rs 143

Technical analyst Simi Bhaumik has maintained 'buy' rating on IDBI Bank Limited stock with a target of Rs 143.
According to analyst, the stock of the bank can be bought with a stop loss of Rs 135.
The shares of the bank, on March 24, closed at Rs 137.80 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 202.25 and a low of Rs 108 on BSE.

Current EPS & P/E ratio stood at 14.75 and 9.41 respectively.
IDBI Bank Ltd has made announcement about the launching of the Cash at Point of Sale (POS) facility at the Reliance Trendz store located at Bandra, Mumbai.
The newly opened facility would permit the holders of debit cards of any banking institution in the country to withdraw cash of upto Rs 1000 daily at selected merchant establishments by swiping their cards on the POS terminals.
The bank has decided to provide this facility without charge to its debit card holders.
Besides, Meydan Group and India's IDBI Bank inked a $120 million syndicated loan deal on Tuesday.
The loaning amount will finance the growth cost of Meydan Heights - a 528-unit mega gated community project collectively promoted by Meydan and Emirates airline

Sell Bharti Airtel With Target Of Rs 360

 Technical analyst Husseini Wadharia of Techno Shares has maintained 'sell' rating on Bharti Airtel stock with a target of Rs 360. According to analyst, the interested investors can sell the stock with a stop loss of Rs 380.
The analyst also said that it is better to sell the stock at this time as there are full chances of a decline in the stock.
The stock of the company, on May 03, closed at Rs 375.15 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 390 and a low of Rs 257 on BSE.
Current EPS & P/E ratio stood at 18.08 and 20.37 respectively.

The country's top mobile phone carrier, Bharti Airtel, is projected to record lower quarterly profits, with investor concentration mainly on an investigation into a multi-billion dollar telecommunications licensing scam.
Companies including Bharti Airtel recently begun launching third-generation (3G) networks and is betting on the pick up of data services to improve margins.
"Telecom sector is going through a sentimental breakdown, there's a lot of uncertainty," said K. K. Mital, head of portfolio management at Globe Capital.
Bharti Airtel has the biggest number of pre-paid subscribers in the state of Jammu and Kashmir but now because of its 'hapless' client service, hoards of subscribers are now mulling to swap over to other firms.
According to the rules of the Central Department of Telecommunications, a fresh affirmation of pre-paid subscribers has been ordered and due to this reason, the SIM cards of various prepaid subscribers have been blockaded.

Hold Karnataka Bank With Stop Loss Of Rs 100

Technical analyst Simi Bhaumik has maintained 'hold' rating on Ranbaxy Laboratories Limited stock with a short term target of Rs 123-125.
According to analyst, the investors can buy the stock with a stop loss of Rs 100.
The stock of the bank, on May 04, closed at Rs 108.20 on the Bombay Stock Exchange (BSE).
Current EPS & P/E ratio stood at 13.97 and 7.79 respectively.
The share price has seen a 52-week high of Rs 207.16 and a low of Rs 99.50 on BSE.
Karnataka Bank Ltd inked a JV deal with Way2Wealth Brokers Private Ltd to introduce a trading facility on the web.
Way2Wealth Online trading program will now be accessible to the account holders of the banking institution.
It will permit the bank clients to trade from any Internet-facilitated site.
Mr. P Jayarama Bhat, Managing Director and Chief Executive Officer, Karnataka Bank stated that Way2Wealth will also offer up the bank's clients' access to explore, specialist advice, investment research and technical analysis that will permit them to make investment verdicts.
In addition, a conference of the bank's directors will take place on May 23, 2011, to consider the audited financial outcomes for the fiscal ended March 31, 2011 and also to announce dividend, if any.

Indian rupee seen down on weak euro, shares watched ?

MUMBAI: The Indian rupee is expected to open weaker on Thursday on concerns about a recession in Europe and continued worries about foreign fund outflows from the stock market.

The euro was on the defensive against the dollar in Asia, having shed all the week's gains as investors doubted a massive 489 billion euro tender by the European Central Bank (ECB) would solve the EU debt crisis.

The euro package has failed to restore confidence that the enormous debt problem will go away and local equities are not fairing well on domestic growth concerns, said Ashtosh Raina, head of forex trading at HDFC Bank.

Traders, who were watching the Reserve Bank of India for more actions, said recent measures spelt out by the central bank to shore up the rupee looked short-lived with slowing growth and widening trade deficit in Asia's third-largest economy weighing.

The rupee is expected to open at 52.80 to the dollar and move in a 52.50 to 53.00 range, traders said. It closed 0.7 percent stronger at 52.49/50.

An Indian official on Wednesday played down worries about the rupee's recent slide to record lows and said trying to defend the currency is not worth the risk it would pose to the country's reserves.