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Nifty holds 6600; Tata Motors, Hindalco, GAIL top gainers..........

10:30am Oberoi Realty jumps over 10%
 Oberoi Realty bought Tata Steel’s defunct manufacturing plant in Borivali, a western suburb in Mumbai. Oberoi Realty jumped 10 percent while Tata Steel rose 2 percent after the real estate developer announced buying the 25-acre land for Rs 1155 crore through e-auction
"The Committee of Independent Directors appointed for the oversight and governance of the sale process by the Tata Steel Board declared Oberoi Realty Limited as the highest bidder of the auction on the basis of their final bid of Rs 1,155 crore, after several rounds of bidding," Tata Steel said in a statement

10:20am Educomp Solutions up over 7%
 Educomp Solutions said the board of directors on March 25 has accepted the letter of approval (LOA) issued by Corporate Debt Restructuring Empowered Group (CDR EG) approving the corporate debt restructuring proposal submitted by the company

10:10am Rupee at 8-month high 
The rupee appreciated by 22 paise to 60.25 against US dollar, tracking weakness in dollar and strong inflow of foreign money. The strength seen in the Indian currency is just sentiment-driven because the underlying economy continues to be weak, believes market expert Jamal Mecklai. "The Indian market certainly looks cheap in dollar terms," he told CNBC-TV18 in an interview. Mecklai, CEO, Mecklai Financial Services cautioned that the high volatility makes it difficult time to take position in the rupee now. He further added that the Reserve Bank of India (RBI) is likely to intervene to curb the currency from falling too much into its 50s and thereby support exports. "We can't afford to let the exports side down because the Chinese currency is also weakening," he added

10:00am Equity benchmarks continued to witness buying interest with the Nifty holding the 6600-mark supported by banks, capital goods, metals and auto stocks. 
The Sensex rose 72.53 points to 22127.74 while the Nifty climbed 21.85 points to 6611.60 amid volatility ahead of expiry of March series derivative contracts. 
More than two shares advanced for every share declining on the Bombay Stock Exchange. 
Tata Motors, Hindalco Industries and GAIL are top gainers, rising more over 2 percent followed by Maruti Suzuki, Tata Steel and Sesa Sterlite with 1.8 percent. 
Top private sector lender ICICI Bank, petrochemical major Reliance Industries and engineering & construction major L&T gained nearly a percent. However, shares of ITC, TCS, HDFC Bank, Sun Pharma, Dr Reddy's Labs, Hero Motocorp and Cipla fell 0.3-1 percent.



Nifty to hit 6900 on favourable poll result: UBS ....

The biggest near-term catalyst for the Indian market is the upcoming general election and the current rally is seen as the one fuelled by hope of a stable government. Gautam Chhaochharia, head of India research of UBS Securities sees the Nifty touching 6,900 on favourable election outcome.
Speaking to CNBC-TV18, he said, sector rotation will take front seat and this up move will be lead by cyclicals largely banks, which have a considerable weightage in the index. Other sectors like industrials and power would also perform well.
Traders who are looking to play recovery in the capex cycle theme can buy infrastructure stocks, but from six months – two years perspective, one should be cautious because on the ground revival in the sector will take a longer time.  L&T and  BHEL are his top picks from the capital goods space. He likes  Voltas  from the midcaps.
 UBS prefers sticking to private sector lenders and is underweight on public sector banks, however, those interested in investing in this space can consider PNB , which looks good from a valuation perspective, he said.
He is overweight on the IT sector from a strategy perspective and expects recovery in US and Europe to aid the sector. Giants  TCS and  Infosys are his top bets. However, he cautioned that sector rotation can drag IT services. Recent rupee appreciation and hopes of economic recovery has led investors to take money from this safe heaven sector to cyclicals.
Meanwhile, he expects the gas price hike to eventually go through. He is positive on  ONGC and RIL .  From the media space, he is positive on Sun TV , Dish TV and Hathway .
Continuing his bullish tone, he added that correction steps taken by previous government have given confidence in the Indian economy. He feels that bulidimng blocks for economic growth are in place. The broking firm is constructive on Indian market from a two-three year perspective

Stock Market For Beginners..

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Ten stocks in focus in Saturday morning trade.....

NEW DELHI: Indian markets are expected to trade higher on Saturday in absence of any major global cues. The key support for the index is around 6,430 levels.
"The Nifty is expected to trend up till 6575 in the next couple of days. In this period the key support will be at 6430 and resistance will be at 6575," said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan
"The Nifty has been forming higher tops and higher bottoms; it has also closed above the previous swing's high which is a positive sign for the market," he added.
Mehta is of the view that the short-term bias remains positive for a target of 6600 with reversal at 6430. The medium-term outlook remains positive as the index has started forming higher tops and higher bottoms on the weekly charts

Here is a list of ten stocks which are likely to be in focus in trade Today .. 

IIFL Holdings Ltd: IIFL today said it has completed sale of its 76 per cent stake to its Sri Lankan subsidiary. "IIFL Holdings informs further to its intimation...it has completed the divestment of its 76 per cent stake in its Sri Lankan subsidiary namely IIFL Securities Ceylon Ltd 

Lupin Ltd: Mumbai-based pharma major Lupin LtdBSE 0.45 % launched its generic version of Niaspan extended release tablets, used in reducing cholesterol in the US 

Gujarat Gas Co Ltd: GGCL has won a licence to retail CNG to automobiles and piped cooking gas to households in Bhavnagar in Gujarat, the oil regulator PNGRB has said. 

Kwality Ltd: Dairy firm Kwality Ltd is planning to invest about Rs 300 crore in the next fiscal to expand its milk procurement operations and launch more value-added products to its portfolio. 

Axis Bank Ltd: The government's offer to sell a 9% stake in Axis BankBSE 2.69 % held by Specified Undertaking of UTI (SUUTI) was largely subscribed to by state owned Life Insurance Corporation and a number of foreign institutions, raising Rs 5,500 crore and helping the finance ministry meet the disinvestment target for the current fiscal.

Financial TechnologiesBSE -1.59 % Ltd: FTIL sought shareholders' approval for sale of its subsidiary National Bulk Handling Corporation (NBHC). 

Shree Renuka Sugars: Shareholders of leading sugar firm Shree Renuka SugarsBSE 0.47 % approved the allotment of 2.57 crore shares to Singapore-based agri-business major Wilmar International for Rs 517 crore. 

McDowell Holdings Ltd: Jammu & Kashmir Bank sold 1.12 lakh shares of UB group company McDowell HoldingsBSE -2.95 % for an estimated Rs 35.42 lakh through the open market route. The bank offloaded the scrips of McDowell Holdings at an average price of Rs 31.63 apiece. 

Federal Bank: With the increase in foreign investment in Federal BankBSE 2.26 % to 74 per cent, foreign investors will be allowed to purchase stake in the private bank, RBI said on Friday
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Pre-market: Nifty seen opening flat in Todays special trading session....

Today is special trading session....timing : 11am to 3.30pm

NEW DELHI: The 50-share Nifty index is expected to open flat in absence of any major global cues on Saturday in a special trading session.
At 07:30 a.m., Nifty India stock futures in Singapore were trading 12 point higher at 6522.50, indicating a flat-to-higher opening on the domestic market
Benchmark indices ended almost flat on Friday as investors preferred to book profits after sharp rally seen earlier this week
From last Friday, the BSE Sensex lost 56.05 points even though it hit lifetime high of 22,040.72 on March 18. The 50-share NSE index Nifty rose 10.10 points, or 0.16 per cent, to end at 6,493.20, after touching high of 6,522.90
"In prevailing market situation, participants should concentrate more on stocks trading and prefer counters from FMCG, metal, private banks and select midcap for fresh buying," said Jayant Manglik, President-retail distribution, Religare Securities Ltd.
Overnight, US stocks ended lower as investors preferred to book profits wiping out early gains that had pushed the S&P 500 to an intraday record high.
Investors continued to monitor geopolitical issues after President Vladimir Putin signed laws completing Russia's annexation of Crimea. Russia's MICEX stock index fell 1 per cent after a US decision to slap sanctions on Putin's inner circle," Reuters reported
The Dow Jones industrial average fell 28.28 points or 0.17 per cent, to 16,302.77. The S&P 500 slipped 5.49 points or 0.29 per cent, to 1,866.52. The Nasdaq Composite dropped 42.498 points or 0.98 per cent, to close at 4,276.788

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Government raises $1.4 bn in divestment push to bolster revenue....

UMBAI/NEW DELHI: The government on Friday raised as much as $1.4 billion through share sales, in a push to shore up state finances before it heads into a tough parliamentary election next month

As a result, New Delhi managed to exceed its sharply-lowered budget target to raise as much as $3.1 billion via stake sales in some private as well as state companies in the fiscal year to March 31, after years of falling short.
Some analysts hope the new government, taking office in May, will speed divestments to bolster revenue generation and trim the budget deficit, as part of efforts to revive slowing economic growth.

Finance Minister P. Chidambaram had penciled nearly $9 billion in divestment revenues into his budget for this fiscal year, but slashed that figure last month to $3.1 billion.

He also set an ambitious target of raising $8.5 billion from further share sales in the next fiscal year, but this estimate could be revised by a possible successor after the election.

"With the next government in place, one would only expect better fortunes from stake sales," said N.R. Bhanumurthy, an economist at the National Institute of Public Finance and Policy think tank.

 "A recovery in growth sentiment in the market should help sell stakes quite early in the next fiscal year to meet the target."

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