B F Utilities Ltd: Rs.255.20

BF Utilities Ltd. (BFUL) is a part of USD 2.4 billion Kalyani Group. BFUL earlier operated in two business segments – Infrastructure Business and Investment Business. BFUL has undergone business restructuring by way of a Composite Scheme of Arrangement. Under the said business restructuring, the Infrastructure Business has remained with BFUL and Investment Business has been transferred to BF Investment Ltd.

Highlights:

(i) The Railway Minister Pawan Kumar Bansal, granted a veritable boon to the beleaguered wind turbine sector by announcing a proposal for setting up 75 MW windmill units, in the railway budget for 2013-14. Mr.Bansal announced "setting up of 75 MW windmill plants and energising 1,000 level crossings with solar power". He said that as a measure to protect the environment and to promote sustainable development, a railway energy management company will be set up to harness the potential of wind and solar power. The railways have pan-India presence and can put up the windmills across the country. This is positive for the wind power generation companies.

(ii) With the scrapping of accelerated depreciation and Generation-Based Incentive (GBI) schemes, the Indian wind power sector received a jolt in the last year's budget.  But, introduction of  generation based incentive to wind power developers, in FY13-14 budget,  is expected to help the wind power industry in a big way. With a generation-based incentive of 50 paise per unit being introduced in the Union Budget, India's wind power capacity is poised to grow from 18,000 megawatts (MW) to 27,000 MW in the next two years, according to turbine makers and wind power producers. The withdrawal of accelerated depreciation for wind energy projects last year led to drastic fall in capacity expansion as only around 1,800 MW new wind capacity was added in 2012-13 against 3,000 MW in 2011-12. Ramesh Kymal, chairman, Indian Wind Turbine Manufacturers’ Association (IWTMA) had said that the reintroduction of GBI scheme by the government would help the wind industry get back to its high growth trajectory and the industry may cross annual capacity addition of 5,000 mw soon. Also, the government  has recognized the contribution of wind power and clean energy fund  will be made available to help wind power.  Wind power accounts for 11% of installed capacity and 6% of total generation in India, he said. The government targets to increase the share of wind power to 15% by 2020 under its national action plan for climate change.

(iii)  Despite the continued dismal state of US economy, B F Utilities Ltd, managed to add 13 GW of windmill capacities in the year 2012, just a whisker below China. Chinese aggregate windmill capacities surpassed 75 GW whereas that of US crossed 60 GW. India's grid-connected renewable energy deployment, mainly solar and wind, has reached 27 gigawatt (GW), according to a top official of the ministry of new and renewable energy.

(iii) Increasing diesel cost will also work to the advantage of wind energy sector as many industrialists may replace diesel generator sets with wind turbines. The government has set a target to add 30,000 mw of power from renewable energy sources during the 12th Plan period (2012-17) and of which 15,000 mw of power is to come from wind sector. As per current government estimates and targets, renewable energy is expected to account for 16-17 per cent of total power capacity in the country by the end of 12th Plan. B F Utilities Ltd's windmill projects are performing satisfactorily during the year.

(iv) Since, the company is into infrastructure development any cut in the repo rate by the RBI, will have sentimental effect on the share price of the company.  Name of Subsidiaries:

a. The company holds 74.52% in Nandi Infrastructure Corridor Enterprises Limited India as of 31/3/2012
b. The company holds 48.27% in Nandi Economic Corridor Enterprises Limited India  as of 31/3/2012
c. The company holds 69.53% in Nandi Highway Developers Limited India 69.53% as of 31/3/2012.

Looking from all angles, I feel the stock has the chance to go to Rs.450, in the medium term. 

 Winning Strokes

The Sensex is now trading at 60,160.82 up 25.04 points (+0.04%), while the Nifty is seen at 17,954.70, up 8.75 points (+0.05%).  This is an improvement from morning market, which was trading in the red. The indices are likely to trade in a range while the action would shift to the broader market, especially in the Real Estate/Construction, Textile, Renewable Energy and Electric Vehicle 🚜🚑 segments. Photo: Tree Hugger

#Today's Recommendation: Buy the shares of B F Utilities Ltd at Rs.457, for targets of Rs. 504/Rs.540/Rs.611/Rs.767. SL: Rs.399. It is a reputed renewable energy player from the reputed Kalyani Group, a $2.5 billion diversified Indian multi-national business conglomerate. BF Utilities as it is a big land owner.  Kalyani Group works on multiple projects via its subsidiary Nandi Infrastructure Corridor Enterprises (NICE). Most of projects are running on Mysore-Bangaluru highway and are stuck. 

BF Utilities, which operates in the infrastructure segment, holds 74.52% stake in Nandi Infrastructure Corridor Enterprises, 69.53% in Nandi Highway Developers and 100% in Avichal Resources. It is a major player in the Wind Energy segment.

It is pertinent to mention here thatthe Ace Investor and billionaire Radhakishan Shivkishan Damani had, acquired 1.30% equity stake, or 4.91 lakh equity shares, in Kalyani group company BF Utilities during the quarter-ended June 30, 2020.

According to a report published in Zee Business NAV for company's land value at Rs.3800 per share. The Land bank value at Rs.2800 per share after factoring in discount.

Kalyani Group is an Indian multi-national business conglomerate with high technology, engineering & manufacturing capability across critical sectors such as Engineering Steel, Automotive, Industrial, Renewable Energy, Urban Infrastructure and Specialty Chemicals.

#The shares of Suzlon Energy Ltd (Rs.7.35) could consolidate around the current ranges, before taking the next upmove.

#The shares of Bombay Rayon and Fashions Ltd (Rs.7.30) is trading at an attractive valuation. Accumulate the shares of the company for some scintillating returns, going forward 

B F Utilities Ltd: Should Perk Up Based On Improved Fundamentals

Company Background: BF Utilities Ltd. (BFUL) is a part of  the reputed Kalyani Group. It earlier operated in two business segments –Infrastructure Business and Investment Business. BFUL has undergone a major restructuring where the Infrastructure Business has remained within the BFUL while the Investment Business has been transferred to BF Investment Ltd.
The projects:
1) Nandi infrastructure Corridor Enterprise (NICE) (74.5% holding). Project – BMIC – Bangalore Mysore Infrastructure Corridor Project.
2) Nandi Highway Developers Ltd (NHDL) (69% holding). Project – Hubli -Dharwad Bypass road. - The Hubli-Dharwar bypass in Karnataka is a 30 km road on NH4 that lets highway traffic bypass the two cities, speeding up traffic. NH4 connects Mumbai/ Pune with Bangalore/ Chennai. Operational since 2000.
3) Project – Wind energy, over 300 acres in Satara, Maharashtra is 100% owned. Despite the continued dismal state of US economy, it managed to add 13 GW of windmill capacities in the year 2012, just a whisker below China. However, the much awaited extension of Kyoto Protocol upto the year 2020 has not been able to bring cheer to the global carbon market. The buyers (designated nations) of carbon credits are required to declare by year 2015 their GHG (Green House Gases) reduction commitments for the period upto 2020. Due to the economic crisis in the EU, most of these buyers are reluctant to make commitments and this has led to uncertainty in the markets and has resulted in steep fall in the carbon prices."Despite much talk by world leaders," said IEA executive director, Maria van der Hoeven, "and despite a boom in renewable energy over the last decade, the average unit of energy produced today is basically as dirty as it was 20 years ago."  The IEA uses a complex calculation called the carbon intensity index to show how much CO2 is emitted to provide a given unit of energy. The index stood at 2.39 tonnes of CO2 per tonne of oil in 1990. By 2010, it has shrunk fractionally to 2.37 tonnes. This has led to a growing concern in the world and hence the things could be  looking better from here.
According to IEA report, the major reason for such a small reduction of that period, was due to the resurgence of coal. And, the coal demand continues to grow. Globally, coal-fired electricity generation rose by an estimated 6% from 2010 to 2012 , faster than non-fossil energy. The major growth in coal came from developing economies, with China accounting for 46% of global coal demand in 2011. However, it is not all bad news for the green sector. Renewables such as solar and wind have boomed in 2011 and 2012, perhaps driven by government spending. They accounted for 19% of global electricity generation in 2011 which according to a report is "broadly on track to meet a 2C scenario by 2020" for a globally altered climate.
The Kyoto Protocol’s Clean Development Mechanism was supposedly created to help finance sustainable development projects in the world’s poorest countries. Many of its supporters argued that it would make it possible for these countries to ‘leapfrog’ or skip the process of industrialization to a more sustainable economic model. But most of the money is going to the largest and most industrialized emerging economies. Over two-thirds of Clean Development Mechanism projects are initiated from just 3 countries: The Netherlands (35.59%), Britain (20.34%), and Japan (15.25%). So, when the name of Japan is there we can be optimistic considering the current set of events there.
Event: – The key asset for the company is the project BMIC (Bangalore Mysore Infrastructure Corridor Project) – A 164 km tolled expressway connecting the cities Bangalore and Mysore. It includes a peripheral road in Bangalore, 5 New Townships along the Expressway (the first Section A involves 7,290 acres land), a Town Planning Authority status, and a Concession period for the toll of 40 years. The BMIC is 75% owned by BF utilities. It has a single planning authority – Bangalore Mysore Infrastructure Corridor Area Planning Authority (BMICAPA) for the entire project.
The project is partly operational with the rest held up due to pending handover of land by the government of Karnataka. This high potential project has been stuck for over a decade due to land handover issues, and the firm is making losses. However recent reports indicate that now it may be close to resolving the issue as the Supreme Court has asked Karnataka to handover the Nandi project land to the company. PE fund raising plans are also in discussion who will invest in the development in the project.
This project has immense potential and is also very important for the growth of the South Bangalore and Mysore. Much of the value is dependent upon a successful handover of committed lands, followed by execution, commissioning, launch and success of sub-projects. This would further help the company to create value for itself as well the shareholders. This would further help the stock to re rate.
Interest Rate Cut: Any fall in the interest rate is positive for the company, as it is into infrastructure development as mentioned above. 
Concerns: Though during the last fiscal the windmill projects of the company performed satisfactorily and the trading of (RECs) generated by the projects helped the company to earn additional revenues, but the income from RECs this year is expected to be subdued due to lower rates owing to oversupply of RECs in the market. The CDM market has also witnessed a free fall in the last few months. However, on the issue of grant of open access for wheeling of windpower to third parties within the state, the Regulatory Commission, in an  order, had clarified certain aspects which will pave the way for open access for wind power projects in the state. This is expected to provide the much needed boost for the windmill projects in the state. Moreover, introduction of the Generation Based Incentive (GBI) for FY14 (Union Budget) and setting aside a sum of Rs.800 crore for this purpose augurs well for the company.
Chartical Analysis: 
The stock is in a positive trend and with technical attributes at 3 or more. The attributes show that the stock is displaying good relative strength. There is resistance at Rs.276.00 and support at Rs.244.00.

B F Utilities Ltd

CMP: Rs.339

The Chart of B F Utilities

BF Utilities Ltd. (BFUL) which is a part of USD 2.4 billion Kalyani Group, is into infrastructure. The company came out with good numbers for the Q2FY12. The total income of the company for Q2FY12 came out to be Rs.22.37  Cr as against Rs.17.46 Cr in the same period previous year. The profit from operations before other income, interest and exceptional items came out to be Rs.7.62 Cr as against Rs.86 lakhs in the same period previous year. The profit from ordinary activities before tax came out to be Rs.4.21 Cr in Q2FY12, as against  a loss of Rs.3.14 Cr in the same period previous year. The profit or loss from ordinary after tax came out to be Rs.89.70 lakhs as against a loss of Rs.4.12 Cr. 
A strong growth in China in the recent years has helped it to add wind power capacities on a large scale. Also, rise in crude prices may help the renewable energy sector. Brent Crude Oil is now trading at $110.44 per barrel. Lately the price of WTI crude oil ($99.03 per barrel) has been catching up on the price of Brent crude oil thanks to a new Seaway pipeline, moving oil from Cushing to Gulf coast refineries as early as April 2012, at the rate of 400,000 barrels per day. 
In CY11, the government has implemented the REC mechanism (Renewable Energy Certificates) in its efforts
to promote the various kinds of renewable energy. Due to better wind conditions, the windmill projects of the company have shown an increase in the generation during the year. The trend is similar to other such projects in the state. The generation of wind power from the Company's projects increased by 15% in FY11 as compared to the previous year. The projects of the company have been successfully registered under the REC mechanism. The RECs issued would be traded on power exchanges and would be eligible for additional revenue. In respect of issues regarding grant of open access for windmill projects wheeling energy to third parties, certain clarifications are being sought from the regulatory authority by the company.  The windmill generators of the  Company are undergoing thorough overhaul in phases to ensure that the life of the windmills is enhanced and are able to perform better.

BF Utilities Ltd: Buy

BF Utilities Ltd posts profit of Rs.2.61 crore for the period ended June 30, 2013.

BF Utilities Ltd has announced the Financial Results for the period ended June 30, 2013.

The company has reported Net Sales / Income from Operations of Rs.7.62 crores for the quarter ended June 30, 2013 against Rs.6.77 crores for the quarter ended June 30, 2012.

The Net Profit / (Loss) was at Rs.2.61 crores for the quarter ended June 30, 2013 against Rs.2.01 crores
for the quarter ended June 30, 2012.

The company has reported an EPS of Rs.0.69 for the quarter ended June 30, 2013 as compared to Rs.0.53 for the quarter ended June 30, 2012.

Sequentially speaking the results of the company were superb for the quarter ended June 30, 2013. In March, 2013, quarter the company came out with net sales of Rs.3.71 Cr and net LOSS of Rs.1.48 Cr. CLICK HERE. 

Buy the scrip at Rs.129-130, for a target of Rs.145-147. Keep a tight stop loss of Rs.117. The change in stance of the RBI policy, will help such companies. Also, new government in Karnataka, could be positive for the company.
Note: The Scrip was recommended yesterday, to the Paid Group members and this is yesterdays' report. It has already moved to Rs.135.90 and could cross Rs.200, within the next few days.

B F Utilities Ltd

CMP: Rs.260.25

• The two cities, Mysore and Bangalore are developing economically on the lines of Mumbai-Pune, with excellent growth and synergies. The Mumbai Pune corridor is a highly industrialised affluent region, powered by an excellent Expressway. The 143 km BMIC distance is part of State Highway 17, and is a key connection from Bangalore to West Karnataka, North Kerala and north and west Tamil Nadu.
• The Bangalore Mysore corridor has tremendous development potential. It is also badly required, for the necessary growth of South Bangalore and Mysore, as well as potentially the entire corridor.
• Even though the B F Utilities Ltd financials are in negative for the December, 2012 quarter, the business is well managed, and the expectation is that if the pending land is handed over to B F Utilities in the next quarter, it may be possible for the management to complete the highway and a fair proportion of the townships by end 2013.
• On legal issues, it is likely that the GoK authorities have, under SC duress, no option but to handover the promised lands, and allow the BMIC executives to proceed on the infrastructure project. According to some reports available on the Internet: the current BJP government have not opposed it, unlike other governments.
• The current State highway has just two lanes each way and is quite congested with travel taking around 3-4 hours. Current data is about 1,00,000 vehicles take this route every day. This indicates that good demand/ potential exists for this new highway by itself. A ballpark estimate of 50% of this traffic attracted to the BMIC, paying a conservative Rs.100 each way indicates Rs.182 Cr annual revenue.
• Most good infra projects attract and stimulate growth. In addition the new townships as well as a new constructions planned will by themselves attract customers from Bangalore, and generate independent revenues and profits.
• Valuation of Real estate firms is difficult. The project has been valued in the past in a wide range, from as low as Rs.4000 – 15,000 Cr. But even this range is higher than current market cap of around Rs.981.24 Cr.
• Much of the value is dependent upon a successful handover of committed lands, followed by execution, commissioning, launch and success of sub-projects.
• But from a risk return perspective, the share has fallen almost 85% from its peak levels, which means the downside looks limited. On the up side, the peak has been more than  6 times the CMP, so there is a significant upside potential.
• The project is showing signs of overcoming teething hurdles and progressing on legal, land acquisition and financial closure aspects.
• The management believes in investing in road assets as soon as they have clear titles, as construction costs today are lesser than those in the future. So many sections are already operational and revenue generating.
• For the High Risk, High Gain investor, this investment can be looked at from a 2-year perspective for a gain of 200 – 300%. In the short term the scrip could move towards Rs.450--500 in the current days as the infrastructure stocks move up in anticipation of a rate cut by the RBI.

Positive Developments in the Infrastructure Sector

NHAI (National Highways Authority Of India) is considering measures that could potentially ease the burden on developers and revive several stalled projects. Work on 3,265 km of road projects worth 286.63 bln rupees stalled for about two years will restart soon with the environment ministry delinking environment and forest clearance.  
Now this is expected to help the companies like IVRCL Ltd (CMP: Rs.18.40) and BF Utilities Ltd (CMP: Rs.193.50). I think you also already know that IVRCL Ltd has a humongous order book of Rs.22, 500 Cr and it was yesterday recommended by a marketman for a target of Rs.22-23. 

Now coming to B F Utility Ltd, let me say that it belongs to reputed Kalyani group which is basically into wind power, and which will benefit from the provisions of the Union Budget-2013-14 on Wind Power. However, the real value lies in the Nandi Economic Corridor Enterprises Ltd, (NECE), - implementation of Phase I of the Bangalore Mysore Infrastructure Corridor Project which is a indirect subsidiary of the Company. I am expecting that in the short term the scrip could touch Rs.205--207. Upon crossing Rs.208 and closing above it, it could touch Rs.217-218. 
The company is having a board meeting on 30th of March, 2013. CLICK HERE.
Brief Report: B F Utility Ltd is into wind power. In the latest Union Budget, the FM has again introduced Generation-based incentives, for wind energy projects and Rs.800 Cr has been allocated for this purpose, which augurs well for the company. Also, the "Eligible Date" for projects in the power sector to avail benefit under Section 80-IA extended from 31.3.2013 to 31.3.2014, in the Union Budget for FY14.
The company managed to add 13 GW of windmill capacities in the year 2012, just a whisker below China. Chinese aggregate windmill capacities surpassed 75 GW whereas that of US crossed 60 GW. Europe led the race for offshore windmill capacities with a total of 1,166 MW contributing 90% of the global additions. UK topped the list with 854 MW additions. In Europe, the onshore capacities are also being installed in the eastern and central regions like Bulgaria, Poland and Romania. 
The much awaited extension of Kyoto Protocol upto the year 2020 is expected to bring in cheer to the global carbon market--though still now it is absent. The buyers (designated nations) of carbon credits are required to declare by year 2015 their GHG reduction commitments for the period upto 2020. However, due to the economic crisis in the EU, most of these buyers are reluctant to make commitments and this has led to uncertainty in the markets and has resulted in steep fall in the carbon prices. Having said, that, since the situation of the world economy is improving it is pertinent to note that the things are expected to improve from here. The prices are expected to remain in this range for some time to come, before breaking out. .
Wind Power Development - Domestic Scenario:
In India, the aggregate windmill capacity touched 18.4 GW with the help of 2.3 GW of new capacities during the CY2012.
But this is expected to see a sea change in the positive direction as, the FM has again introduced Generation-based incentives, for wind energy projects and Rs.800 Cr has been allocated, as mentioned earlier.   CLICK HERE.
BF Utilities Ltd. (BFUL) is a part of USD 2.4 billion Kalyani Group. BFUL earlier operated in two business segments – Infrastructure Business and Investment Business. BFUL has undergone business restructuring by way of a Composite Scheme of Arrangement. Under the said business restructuring, the Infrastructure Business has remained with BFUL and Investment Business has been transferred to BF Investment Ltd.

MARKET MANTRA

Reliance Communications Ltd recommended some days back around Rs.61-62, today touched Rs.65.65. The first target if you remember was at Rs.66.
Glodyne Tech Ltd hits the buyer freeze due to positive conditioned mentioned a couple of weeks back. The bad days are probably over for the company and it should now steadily move up. 

Buy B F Utilities Ltd at Rs.225, T--Rs.285, SL---Rs.217 (exit)...B F Utility Ltd is into wind power. In the latest Union Budget, the FM has again introduced Generation-based incentives, for wind energy projects and Rs.800 Cr has been allocated for this purpose, which augurs well for the company. Also, the "Eligible Date" for projects in the power sector to avail benefit under Section 80-IA extended from 31.3.2013 to 31.3.2014, in the Union Budget for FY14. 
The company managed to add 13 GW of windmill capacities in the year 2012, just a whisker below China. Chinese aggregate windmill capacities surpassed 75 GW whereas that of US crossed 60 GW. Europe led the race for offshore windmill capacities with a total of 1,166 MW contributing 90% of the global additions. UK topped the list with 854 MW additions. In Europe, the onshore capacities are also being installed in the eastern and central regions like Bulgaria, Poland and Romania. Although commercial banks are active in financing windmill projects in these regions, these projects are facing challenges from regulatory risks and inadequate grid capacities.
The much awaited extension of Kyoto Protocol upto the year 2020 is expected to bring in cheer to the global carbon market--though still now it is absent. The buyers (designated nations) of carbon credits are required to declare by year 2015 their GHG reduction commitments for the period upto 2020. However, due to the economic crisis in the EU, most of these buyers are reluctant to make commitments and this has led to uncertainty in the markets and has resulted in steep fall in the carbon prices. Having said, that, since the situation of the world economy is improving it is pertinent to note that the things are expected to improve from here. The prices are expected to remain in this range for some time to come, before breaking out. .
Wind Power Development - Domestic Scenario:
In India, the aggregate windmill capacity touched 18.4 GW with the help of 2.3 GW of new capacities during the CY2012. 
But this is expected to see a sea change in the positive direction as, the FM has again introduced Generation-based incentives, for wind energy projects and Rs.800 Cr has been allocated, as mentioned earlier.   CLICK HERE.
BF Utilities Ltd. (BFUL) is a part of USD 2.4 billion Kalyani Group. BFUL earlier operated in two business segments – Infrastructure Business and Investment Business. BFUL has undergone business restructuring by way of a Composite Scheme of Arrangement. Under the said business restructuring, the Infrastructure Business has remained with BFUL and Investment Business has been transferred to BF Investment Ltd.  CLICK HERE.
Tulip Telecom Ltd hit the buyer freeze in the opening trade. The Paid Members were specifically asked to buy the scrip, from today, as the company's debt restructuring is expected to get completed by the end of this month. 

Voltas Ltd recommeded at Rs.82-83 yesterday, today touched Rs.84.25. The company is doing exceptionally well.

WINNING STROKES: THINK DIFFERENT

Suzlon Ltd touched Rs.23.10 before closing flat at Rs.22.50. The company which was conceived in 1995 with just 20 people, is now a leading wind power company with:

• Over 13,000 people of 32 nationalities,
• Operations across 6 continents and 32 countries,
• Fully integrated supply chain with manufacturing facilities on three continents,
• Sophisticated R&D capabilities in Denmark, Germany, India and The Netherlands.

It is a market leader in India and it is the 5th largest wind turbine manufacturing groups in the world. The company announced today that it has signed an MOU with the Andhra Pradesh government for the development of 3000 Mw in the state, between 2012 and 2016. 

My call on buy Mini_Nifty at 4847, T--4910, SL--4820, almost reached its target as the Nifty touched 4899.70 intra-day. I  had also mentioned in the "Market Mantra" to exit all shorts (and be long) as the Nifty is expected to move higher in the coming days. Now India will move on its own fundamentals, as we have already DE-coupled from the rest of world; since we were the worst performing market.

Chart of B F Utilities Ltd

B F Utility Ltd touched Rs.347.65, before closing at Rs.343.55 up 1.34%. Since, I am asking all to focus on the Infrastructure/Real Estate and Renewal energy sector, hence the recommendation of this scrip. BF Utilities Ltd. (BFUL) is a part of USD 2.4 billion Kalyani Group (~Rs.12, 200 Cr). Due to better wind conditions, the windmill projects of the company have shown an increase in the generation during FY11. The trend is similar to other such projects in the state. The generation of wind power from the Company's projects increased by 15% in FY11 as compared to the previous year. The projects of the company have been successfully registered under the REC mechanism. The RECs issued would be traded on power exchanges and would be eligible for additional revenue. The windmill generators of the Company are undergoing thorough overhaul in phases to ensure that the life of the windmills is enhanced and are able to perform better.

Country Club India Ltd moved up 4% today and closed at Rs.8.85--intra-day, the scrip touched Rs.9.09. This is another scrip which give you superb returns going forward.
I  had a couple of days back, asked all to book profits and exit DCB Ltd at around Rs.42--42.95 to those who averaged the scrip on y suggestions. Yesterday,  the news came in a pink daily: Sloppy market conditions have forced Development Credit Bank (DCB) to defer its QIP issue to next fiscal and the small private lender is now hoping to raise up to Rs 120 crore in the first quarter of FY 13. It is interesting to note that while I gave sell call, the Brokerage house Nirmal Bang gave a buy call on the scrip. This is akin to my call on J P Associates, where I gave a buy call at Rs.53, while many brokerage houses gave a sell call at the same price. Therefore, please read this blog or take my Paid Service/s, to stay ahead of others. 

The Price of the Paid Services is going to increase from 1st February, 2012. Hence, those who want to renew or take fresh subscriptions, should do it before  this stipulated date. Also, some seats are open for Profit PMS; if anyone has a portfolio size of more than Rs.5 lakhs (for NRIs it is 15 lakhs), they can send me a mail at: suman2005s@rediffmail.com or sumanm2007s@gmail.com. Those who have sent me mails for fresh subscription, should give me a couple of days to respond. 
Key benchmark indices registered small gains to reach 5-1/2-week closing highs as the headline inflation hit 2-year low, which reinforced expectations that the central bank will start cutting interest rates in the coming months to revive slowing economic growth. The barometer index, BSE Sensex, advanced 34.74 points or 0.22%, up about 150 points from the day's low and off close to 25 points from the day's high. The market breadth turned positive from negative late trade.

Data showing buying by foreign funds recently underpinned sentiment. Foreign institutional investors (FIIs) bought shares worth Rs 293.51 crore on Friday, 13 January 2012, as per provisional data from the stock exchanges. FII inflow totaled Rs 1555.94 crore in four trading sessions from 10 to 13 January 2012, as per provisional data from the stock exchanges. FIIs have bought shares worth a net Rs 2183.19 crore so far in January 2012, as per provisional data from the stock exchanges.

The Sensex has jumped 734.44 points or 4.75% so far in this month. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 3,621.78 points or 18.28%. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,053.50 points or 6.96%.

Coming back to today's trade, State Bank of India (SBI) bounced back in late trade on reports that the bank has received Finance Ministry's approval for a capital infusion of Rs 6000 crore to Rs 8000 crore. Index heavyweight Reliance Industries (RIL) declined over 2%. IT pivotals rose ahead of results of IT giant TCS tomorrow, 17 January 2012.

The Sensex cut losses after an initial decline triggered by weak Asian shares. The intraday recovery proved short lived. Key benchmark indices hit fresh intraday lows in morning trade. The market once again cut losses in mid-morning trade. Key benchmark indices were off the day's lows amid a bout of volatility in afternoon trade after the latest data showed cooling of wholesale price inflation in December 2011. The market weakened once again after recovering sharply to cut almost the entire intraday losses to hit fresh intraday highs in early afternoon trade. The market moved into positive zone in mid-afternoon trade. The market hit a fresh i ntraday high in late trade.

The BSE Sensex advanced 34.74 points or 0.22% to settle at 16,189.36, its highest closing level since 9 December 2011. The Sensex gained 59.74 points at the day's high of 16,214.36 in mid-afternoon trade. The index fell 117.02 points at the day's low of 16,037.60 in morning trade, its lowest level since 12 January 2012.

The S&P CNX Nifty was up 7 points or 0.16% to 4,973.90, its highest closing level since 8 December 2011. The index hit a high of 4,880.80 in intraday trade. The index hit a low of 4,827.05 in intraday trade, its lowest level since 12 January 2012.

The BSE Mid-Cap index fell 0.03% and underperformed the Sensex. The BSE Small-Cap index rose 0.33% and outperformed the Sensex.

The market breadth, indicating the overall health of the market, turned positive from negative in late trade. On BSE, 1,406 shares gained and 1,348 shares declined. A total of 109 shares were unchanged. The breadth alternatively moved positive and negative zone during the last one hour or so of trade.

The total turnover on BSE amounted to Rs 2082 crore, lower than Friday's (13 January 2012) turnover of Rs 2742.45 crore.

Among the 30-member Sensex pack, 15 gained and an equal number of shares declined.

Index heavyweight Reliance Industries (RIL) lost 2.55% to Rs 713.40 and was the top loser from the Sensex pack. As per reports, the market regulator Securities & Exchange Board of India (Sebi) is examining whether RIL had made proper disclosure about the acquisition of significant stakes in ETV channels. RIL early this month announced sale of part of its stake in Eenadu Group's ETV channels to Network18 Group. RIL announces Q3 December 2011 results on Friday, 20 January 2012.

Den Networks gained 6.25%. The company denied media reports of RIL planning to pick 26% stake in it.

Hathway Cable & Datacom surged 12.11%. The company termed media report of RIL planning to pick 26% stake in it as baseless and untrue.

Essar Oil rose 1.94% after company announced during market hours today the successful commissioning of the Hydrogen Manufacturing Unit (HMU), the third unit to be commissioned as part of the Phase I expansion at its Vadinar refinery. The company will commission six additional units by March 2012, thus completing a Rs 8310 crore expansion project that will increase the Vadinar refinery's capacity and enhance its complexity almost twofold.

Interest rate sensitive banking stocks were mixed. India's largest bank by net profit and branch network State Bank of India (SBI) gained 2.22% to Rs 1816.65, rebounding sharply from day's low of Rs 1748.60. SBI has received Finance Ministry's approval for a capital infusion of Rs 6000 crore to Rs 8000 crore, a television channel reported, citing the bank's chairman. The capital infusion will be made by 31 March 2012, Pratip Chaudhuri was reported as saying.

India's largest private sector bank by branch network ICICI Bank rose 0.24%, extending five-day 5.92% gain. The bank unveils Q3 results on 31 January 2012.

India's second largest private sector bank by branch network HDFC Bank lost 1.74% on profit booking after gaining 4.03% in prior five trading sessions. The bank unveils Q3 results on 19 January 2012.

Global ratings firm Standard and Poor's on Friday, 13 January 2012, said that the Reserve Bank of India's guidelines on Basel III norms, if implemented, could strengthen the capital and credit profiles of banks in the country. The draft guidelines, which the RBI recently announced, may negatively affect the credit growth of a few banks. But overall, the guidelines--if implemented--will benefit Indian banks' stand-alone credit profiles, S&P said.

In its draft guidelines on Basel III capital regulation norms for banks unveiled recently, the RBI has suggested that Common Equity Tier 1 (CET1) capital must be at least 5.5% of risk-weighted assets (RWAs). Tier 1 capital must be at least 7% of RWAs and total capital must be at least 9% of RWAs, according to the draft guidelines. RBI has suggested capital conservation buffer in the form of Common Equity of 2.5% of RWAs.

The RBI said the implementation period of minimum capital requirements and deductions from Common Equity will begin from January 1, 2013 and be fully implemented as on March 31, 2017. Capital conservation buffer requirement is proposed to be implemented between March 31, 2014 and March 31, 2017. Instruments which no longer qualify as regulatory capital instruments will be phased-out during the period beginning from January 1, 2013 to March 31, 2022.

For OTC derivatives, in addition to the capital charge for counterparty default risk under Current Exposure Method, banks will be required to compute an additional credit value adjustments (CVA) risk capital charge. The parallel run for the leverage ratio will be from January 1, 2013 to January 1, 2017, during which banks would be expected to strive to operate at a minimum Tier 1 leverage ratio of 5%. The leverage ratio requirement will be finalized taking into account the final proposal of the Basel Committee.

The Reserve Bank of India (RBI) on Friday, 13 January 2012, issued guidelines that seek to limit variable pay and stop guaranteed bonuses to senior staff of private sector banks. Variable pay, either in the form of cash or stock-linked instruments, shouldn't exceed 70% of the fixed pay in a year, the Reserve Bank of India said in a press release. Under the guidelines, stock options plans to employees won't be counted as part of variable pay. In cases where the variable pay is in excess of 50% of the fixed pay, 40%-60% of the variable pay must be deferred for at least three years, it said.

The RBI has barred banks from offering guaranteed bonuses, which it said were not consistent with sound risk management or the pay-for-performance principles. Foreign banks operating in India will have to declare that their executive compensation conforms with the Financial Stability Board principles, RBI said.

Auto stocks were mixed. Tata Motors gained 2.2%, extending recent strong rally. Tata Motors' global sales rose 33% to 99,853 units in December 2011 over December 2010. Its UK-based Jaguar Land Rover unit sold 30,981 vehicles in December, up 45% from a year earlier. Sales of Jaguar sedans grew 9% to 4,726 autos while those of Land Rover sport-utility vehicles surged 54% to 26,255 units.Tata Motors said it sold 48,099 trucks and buses globally in December, up 28% from a year earlier.

Mahindra & Mahindra (M&M) shed 0.44%. SsangYong Motor Co. will start assembling sport-utility vehicles in India late this year to avoid high import tariffs imposed on completely built units, the company's chief executive Lee Yoo-il said in a media interview on Thursday, 12 January 2012. M&M's president for automotive and farm equipment Pawan Goenka Thursday, 5 January 2012, said that the company plans to start assembling SsangYong vehicles in China, Brazil and Russia in the next two years. M&M last year picked up a 70.03% stake in South Korean auto maker SsangYong Motor Co. for 522.5 billion Korean won.

Maruti Suzuki India jumped 2.89%. Maruti on Friday, 6 January 2012, unveiled India's first compact multi purpose vehicle Ertiga at the auto expo. Ertiga's compact dimensions make it easy to park ad maneuver, Maruti said. Maruti had on Thursday, 5 January 2012 unveiled XA Alpha -- a concept for a compact sports utility vehicle (SUV).

Bajaj Auto declined 0.41%. The firm recently unveiled an ultra-low-cost car, its first foray into the four-wheel market. The compact RE60 boasts of high fuel efficiency and low carbon dioxide emissions, but the firm did not release a price tag.

India's largest two-wheeler maker Hero MotoCorp rose 0.25%. Hero MotoCorp expects double-digit percentage growth in sales for the fiscal year starting in April, Managing Director Pawan Munjal said at recently concluded New Delhi Auto Expo. The company on Friday, 6 January 2012 unveiled its first concept hybrid scooter.

Software pivotals rose ahead of results of IT giant TCS tomorrow, 17 January 2012. TCS was up 1.91%.

India's second largest software services exporter by revenue Infosys rose 1.88%. The company has given a muted guidance for Q4 March 2012. The company has projected a marginal 1.25% growth in non-annualised earnings per American Depositary Share at $0.81 in Q4 March 2012 over Q3 December 2011. The company has projected a flat to 0.22% growth in consolidated revenue in dollar terms at $1.806 billion to $1.81 billion in Q4 March 2012 over Q3 December 2011. The IT major issued its outlook for the quarter ending March 2012 at the time of announcing Q3 December 2011 results last week.

India's third largest software services exporter by revenues Wipro rose 1.57%. The company unveils Q3 December 2011 results on 20 January 2012.

CMC rose 0.73% after consolidated net profit rose 26.79% to Rs 41.37 crore on 10.83% rise in net sales to Rs 395.84 crore in Q3 December 2011 over Q2 September 2011. The result was announced after market hours on Friday, 13 January 2011.

Metal stocks were mixed. Sterlite Industries (up 2.56%), JSW Steel (up 0.74%), Tata Steel (up 1.44%), and Sesa Goa (up 1.9%) gained. Hindalco Industries (down 0.56%), Jindal Steel & Power (down 0.56%), Hindustan Zinc (down 1.57%), Nalco (down 2.15%), Sail (down 1.19%), declined.

Shares of gas distribution firms extended Friday's, 13 January 2012, losses triggered by reports that the petroleum regulator will determine marketing margins for natural gas. Indraprastha Gas (down 6.21%), GAIL (India) (down 0.42%), Gujarat State Petronet (down 0.57%), and Petronet LNG (down 0.16%), edged lower.

Reports suggested that until now, marketing margins, the difference between the purchase and resale prices of a product, were negotiated between buyers and sellers. This rule, if comes into existence, will be applicable to all marketers like GAIL (India), Indraprashta Gas and Petronet LNG who currently do not share any profits with the government, added reports.

Capital goods stocks edged higher on bargain hunting after a steep decline last month. L&T, Bhel, ABB and Praj Industries rose by between 0.06% to 2.67%.

Realty stocks fell on expectations of weak Q3 results. Realty firms are seen reporting weak Q3 results due to sluggish sales volume and higher interest costs. Unitech, DLF, HDIL and Sunteck Realty dropped by between 0.41% to 3.9%.

From the recent low of 1,388.61 on 6 January 2012, BSE Realty index had jumped 13.91% in six trading sessions to settle at 1,581.78 on 13 January 2012.

Some fertiliser shares gained on reports the government plans to raise prices of urea, the most widely consumed fertiliser in India, by a steep 40%. Coromandel International (up 4.58%), Rashtriya Chemicals and Fertilizers (up 3.76%), National Fertilizers (up 3.76%), Deepak Fertilisers and Petrochemicals Corporation (up 0.8%), Chambal Fertlisers (up 0.12%), and Zuari Industries (up 0.79%), edged higher.

Reports suggested that a proposal is being formulated and a formal cabinet note will be circulated by next week. If approved, the price hike will reduce fertiliser companies' dependency on government subsidy, reports added. Urea, which accounts for over half of country's total fertiliser consumption, is the only soil nutrient, whose price is controlled by the government

Prraneta Industries clocked highest volume of 8.34 crore shares on BSE. Cals Refineries (1.68 crore shares), Lanco Infratech (87.80 lakh shares), Suzlon Energy (70.01 lakh shares) and Yantra Natural Resources (52.91 lakh shares) were the other volume toppers in that order.

Everonn Education clocked highest turnover of Rs 121.36 crore on BSE. SBI (Rs 90.71 crore), Tata Steel (Rs 83.13 crore), Infosys (Rs 58.36 crore) and RIL (Rs 57.92 crore) were the other turnover toppers in that order.

The stock market regulator Securities & Exchange Board of India (Sebi) has issued rules on direct investment in stocks by foreign investors, including individuals. Sebi said entities having opaque structures, where details of the ultimate beneficiary are not accessible or where the beneficial owners are ring fenced from each other, will not be allowed to open demat account as qualified foreign investor, or QFI. The regulator has also said that these investors will need to take delivery of shares they purchase on the local bourses. The onus of carrying out full due diligence on an overseas investor is now on depository participants, which includes banks, with other obligations also cast on them.

Sebi said foreign investors, who wish to invest directly in Indian shares, will also have to obtain a separate permanent account number or PAN. QFIs have also been barred from issuing offshore derivatives instruments or participatory notes and will also have to give a declaration to this effect to the DP.

On 1 January 2012, the government decided to allow foreign resident investors to invest directly in the Indian equities market, in a move aimed at boosting capital inflows, reducing market volatility and deepening the markets. Qualified Foreign Investors (QFIs) can buy individually up to 5% of the capital of an Indian company. Cumulatively, QFIs can invest up to 10% of the capital of the company being invested in. These limits are over and above the FII and NRI investment ceilings prescribed under the PIS route for foreign investment in India.

The results season has begun on a weak note, with IT bellwether Infosys cutting its earnings and revenue growth guidance in dollar terms for the year ending March 2012 (FY 2012). Analysts expect weak Q3 December 2011 results due to lower volume growth in a slowing economy, higher raw material costs and higher interest charges. The focus will be on guidance from the company managements on outlook for the remaining part of the year and for the next year.

TCS and HCL Tech unveil quarterly results on 17 January 2012. Jindal Steel & Power announces Q3 results on 18 January 2012. HDFC Bank, Hero MotoCorp and Bajaj Auto unveil Q3 results on 19 January 2012. Reliance Industries, Wipro, ITC, Axis Bank, Jet Airways (India) and Hindustan Zinc unveil Q3 results on 20 January 2012. JSW Steel reports its Q3 standalone results on 20 January 2012. UltraTech Cement, Asian Paints, Zee Entertainment Enterprises and Godrej Consumer Products unveil Q3 results on 21 January 2012. L&T, Maruti Suzuki, Sterlite Industries (India), Idea Cellular, GAIL (India) and Kotak Mahindra Bank unveil Q3 results on 23 January 2012.

Cairn India, Grasim and Biocon unveil Q3 results on 24 January 2012. Bank of Baroda, Sesa Goa, Union Bank of India, Rural Electrification Corporation and Tata Communications unveil Q3 results on 25 January 2012. NTPC and Bank of India unveil Q3 results on 27 January 2012. ICICI Bank, Punjab National Bank, Dabur India and Siemens unveil quarterly results on 31 January 2012. ONGC announces Q3 results on 2 February 2012. Dr. Reddy's Laboratories reports Q3 results on 3 February 2012. India Cements announces Q3 results on 6 February 2012. Mahindra & Mahindra unveils Q3 results on 7 February 2012. Hindalco unveils Q3 results on 9 February 2012. BPCL unveils Q3 results on 10 February 2012. Aditya Birla Nuvo announces Q3 results on 11 February 2012.

Inflation based on the wholesale price index cooled off to 7.47% in December 2011, compared to 9.11% rise in November 2011, government data released today, 16 January 2012, showed. Inflation in December 2011 was the lowest since December 2009. However, prices of manufactured products--a gauge the RBI uses to assess core inflationary pressures--rose 7.41% in December 2011 from a year earlier, and 0.57% from November 2011. Moreover, December's lower inflation print is partly due to a high statistical base a year earlier. That means inflationary pressures could again emerge when the base effect fades in the next few months.

Meanwhile, October 2011 inflation was revised upward to 9.87% from 9.73% reported earlier

At its mid-quarterly monetary policy review meet on 16 December 2011, the RBI left its main lending rate unchanged in order to support faltering economic growth as inflation shows signs of cooling. While inflation remains on its projected trajectory, downside risks to growth have clearly increased, RBI had said in a statement on 16 December 2011. From this point on, monetary policy actions are likely to reverse the cycle, responding to the risks to growth, RBI had said.

RBI had said inflation risks remain high and inflation could quickly recur as a result of both supply and demand forces. RBI also said that the rupee remains under stress. The timing and magnitude of further actions will depend on a continuing assessment of how these factors shape up in the months ahead, RBI said. The RBI has raised rates 13 times since March 2010.

Stronger-than-expected growth in industrial production in November 2011 has raised doubts about the timing and pace at which the Reserve Bank of India would likely ease its monetary policy. Industrial output rose 5.9% in November 2011, compared with a revised contraction of 4.74% in October 2011, data released by the government on Thursday, 12 January 2012, showed. Manufacturing output, which constitutes about 76% of the industrial production, grew an annual 6.6% in November 2011. Industrial production had contracted in October 2011, snapping consistent growth for the preceding 29 months in a row.

The budget for 2012/13 ending March will be presented after elections scheduled in five states, Finance Minister Pranab Mukherjee said on 2 January 2012. State elections are scheduled between the end of January and early March 2012. The annual budget is usually presented on the last working day of February. The Election Commission on 24 December 2011 announced the dates for the assembly polls in Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa. Uttar Pradesh will have polling on February 4, 8, 11, 15, 19, 23 and 28, while Uttarakhand and Punjab will go to polls on January 30. Manipur will have polls on January 28 and Goa on March 3.

India's December exports rose an estimated annual 6.7% to $25 billion, while imports for the month were at $37.8 billion, leaving a trade deficit of $12.8 billion, Trade Secretary Rahul Khullar said on Monday.

European stocks were trading mixed Monday, 16 January 2012, as France prepared to sell bonds after Standard & Poor's stripped the country of its top credit rating and downgraded eight other euro-area nations. Key benchmark indices in UK and France were down 0.2% to 0.24%. Germany's DAX rose 0.38%

Ratings agency Standard & Poor's cut France and Austria's triple-A credit ratings by one notch late on Friday, 13 January 2012, and also lowered the ratings of Italy, Spain, Malta, Slovenia, Slovakia, Portugal and Cyprus. While the downgrades were widely anticipated, Standard & Poor's also put France -- the region's second largest economy -- and 13 other euro-zone nations on negative outlook.

Greece, however, remains the more immediate concern after talks with private sector creditors broke down on Friday. Crucial negotiations to restructure the nation's debt are expected to resume on Wednesday, 18 January 2012.

Ratings agency Moody's said on Monday that France's debt metrics and potential contingent liabilities were putting pressure on the stable outlook for the country's triple-A credit rating and said it would update its position on France later this quarter. The deterioration in debt metrics and the potential for further contingent liabilities to emerge are exerting pressure on the stable outlook of the French government's triple-A debt rating, Moody's said in a credit opinion on France.

Asian markets declined on Monday, 16 January 2012, after a string of downgrades from Standard & Poor's and stalled debt talks in Greece thrust Europe's ongoing debt crisis back into the spotlight. The key benchmark indices in Japan, Taiwan, China, Hong Kong, Singapore, Indonesia, and South Korea rose by between 0.65% to 1.71%.

US stocks edged lower on Friday, 13 January 2012, as fears of a credit downgrade of several euro-zone countries added to disappointing results from J.P. Morgan Chase. The Dow Jones Industrial Average finished down 48.96 points, or 0.39%, to 12422.06. The Standard & Poor's 500-stock index dropped 6.41 points, or 0.49%, to 1289.09, while the Nasdaq Composite index declined 14.03 points, or 0.51%, to 2710.67.

In economic data, the Commerce Department said Friday that the US trade deficit widened for the first time in five months in November, as exports to the euro area slumped. The US deficit jumped 10.4%, the biggest gain since May, to $47.75 billion.

US markets remain closed today, 16 January 2012, for the Martin Luther King day holiday.

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BF UTILITIES LTD

CMP: Rs.370

T--Rs.425--450

BF Utilities Limited (BFUL) was incorporated in September of the year 2000, to satiate the power requirements of the Kalyani Group companies and also to lessen the burden on the Electricity Board. Together with its subsidiaries, operates as an independent power producer in India. The company generates electricity through wind-assisted power plants at Thoseghar in Satara District of Maharashtra, as well as through non-conventional sources. The company is headquartered in Pune, India. Power, apart being a scarce commodity, is also a critical element in the Group's activities, which includes steel making, forging, machining etc. The company's Wind Farm is located at Village Maloshi, Boposhi and Kadve Khurd, Taluka Patan, District Satara, in Maharashtra. The division performed extremely well and its assets grew rapidly. The Windmill Division was formed in late nineties to harness the wind energy for captive consumption of Bharat Forge and other group companies.

Courtesy: Dalal Street Winner.com

Market Pulse

Key benchmark indices edged higher in early trade tracking positive global cues. The S&P BSE Mid-Cap index rose 0.39%, under-performing the Sensex. The S&P BSE Small-Cap index advanced 0.62%, outperforming the Sensex. The market is not expecting a deep correction, so every dip is a buying opportunity.

Overseas, Asian stocks edged higher following strong finish on the Wall Street on Friday. US equities closed higher on Friday, 8 December 2017, following the release of a stronger-than-expected jobs report. The US economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. The unemployment rate held steady at 4.1%.

Closer home, the breadth, indicating the overall health of the market, was strong. On the BSE, 1,158 shares rose and 309 shares declined. A total of 69 shares were unchanged.

Axis Bank rose 1.39% at Rs 550 after the bank said its shareholders have given an approval to a proposal to raise equity and equity-linked capital of Rs 11626 crore from a set of marquee investors including entities affiliated with Bain Capital Private Equity, other investors advised by Capital Research and the bank's promoter, Life Insurance Corporation of India (LIC). The announcement was made after market hours on Friday, 8 December 2017.

UltraTech Cement advanced 1.73% at Rs 4,225.85 after the company said that its board at a meeting held on 9 December 2017, approved the setting up of a 3.5 MTPA integrated cement plant at Pali, Rajasthan, at an investment of around Rs 1850 crore. Commercial production from the plant is expected to commence by June 2020.

The board also approved a proposal for an increase in the investment limits by registered foreign portfolio investors (RFPIs) including foreign institutional investors (FIIs) from the existing limit of 30% of the paid-up equity share capital upto 40% of the paid-up equity share capital of the company. The announcement was made on Saturday, 9 December 2017.

Power Grid Corporation of India (PGCIL) was up 0.44% at Rs 203.80 after the company said its board at a meeting held on 8 December 2017, accorded approval for two investment proposals aggregating to Rs 268.53 crore. The announcement was made after market hours on Friday, 8 December 2017.

Indiabulls Housing Finance fell 0.22% at Rs 1,204.60. The company said that it has sold its 100% shareholding in Indiabulls Life Insurance Company, presently a non-operational company with no business or license, to SORIL Holdings and Ventures (SHVL), at face value for an aggregate cash consideration of Rs 5 lakh. This transaction between the company and SHVL, being related parties, is at arms' length. The announcement was made on Saturday, 9 December 2017.

Among other news, Gujarat recorded a polling of 68% in the first phase of assembly elections for 89 assembly constituencies held on Saturday, 9 December 2017. The second phase polling will take place on 14 December 2017 in 93 assembly constituencies. Counting of votes will take place on 18 December 2017. The Gujarat assembly has 182 seats.

Today's Calls:

#P C Jewellers Ltd recommended at around Rs.396, last Thursday, reached both the targets (intraday high Rs.432.70).  Book Full Profits.

#Gujarat Narmada Valley Fertilizers & Chemicals Ltd recommended last Friday at Rs.465-467. Book PARTIAL PROFIT around Rs.473 (Intraday high: Rs.474.30).

#INTRADAY Buy Bata Ltd at around Rs.740, SL: Rs.729,  Target: Rs.753. Exit at the CMP of Rs.741-742. Call Closed.

#Jai Balaji Industries Ltd (Rs.21) has hit the upper circuits, on the news that most lenders have sold loans of BILT and Jai Balaji to ARCs. Hereto, this stock which was recommended around Rs.12-14, has given superb returns to the investors, throwing mud on the faces of naysayers.

#Buy Shilipi Cables Ltd at around Rs.13.30, for targets of Rs.17-19. After the positive news on Jai Balaji Industries Ltd, the market is optimistic about the debt restructuring of this company.

#Buy Aurobindo Pharma 700CE (CMP: Rs.15.50) on intraday declines at around Rs.15.0-14.50, SL 12; T: Rs.20-23. Book PARTIAL PROFIT at around Rs.17.75....

#B F Utilities Ltd which I recommended at around Rs.130, today touched Rs.485. Now if B F Utilitity Ltd is moving up on the government of India's auction buzz, can Suzlon Energy Ltd (Rs.14) be far behind? Accumulate the shares of Suzlon Energy Ltd on every intraday decline. Or the investors should buy and hold.
Meanwhile, Inox Wind expects order inflows to normalize from next quarter (Q3) onwards and execution to pick up from Q4. Suzlon Energy pegs the market to expand to about 6,000 megawatts (MW) in the next fiscal year. For perspective, India is estimated to add 1,000-1,500 MW of wind capacity this fiscal year, compared to 5,400 MW last year. India has lined up an ambitious plan to award 100 gigawatts (GW) of solar and wind contracts by March 2020.
Also, there are news reports that State-run Solar Energy Corporation of India (SECI) has floated tender for setting up 2 GW inter- state transmission system (ISTS) connected wind power capacities across the country. The company has invited proposals for setting up of ISTS connected Wind Power Projects in India, on 'Build Own Operate' basis for an aggregate capacity of 2000 MW, as per the tender document. Thus the Process has already commenced......
Advantage Suzlon Energy Ltd (Rs.13.85), B F Utilities Ltd (Rs.478) and Inox Wind Ltd (Rs.145.55)....

#The stock of Unitech Ltd (Rs.8.35) which was recommended repeatedly in this blog starting from around Rs.5-6, is buzzing since yesterday, after the media reports came  out saying that the National Company Law Tribunal (NCLT) has allowed the government of India to appoint 10 directors on the board of debt-ridden realty firm Unitech Ltd. However, the stock price which touched Rs.8.70, may not go too further as nothing on the table happened, as of now. The stock hit the 20% yesterday on positive sentiment built up. Therefore, book profits before the euphoria dies down and then wait for the dips to enter again, just as you did in case of Jai Balaji Industries Ltd.

#The Risk taking traders can buy Uttam Galva Steels Ltd at around Rs.23.70, for short term targets of Rs.29-31. Bankers are looking to speed up the resolution of 28 accounts including Videocon Industries Ltd, Jaipraksh Associates and Uttam Galva Steel as a December 13 deadline looms. The resolution for Uttam Galva Steel, BILT, Jai Balaji, Jayaswal Neco, Soma Enterprise and Anrak Aluminium is either done or is in the final stages, bankers said. Lenders said that in some of these cases banks have either sold the loans to asset restructuring companies (ARCs) or settled them with the promoters.

#Intraday Buy Zinc at around Rs.199.80, SL below Rs.198.90, T: Rs.201.50.

#Intraday Buy Copper at around Rs.425, SL below Rs.423, T: Rs.428..

Nifty 50:
#Demand Levels: 10235/10195
#Suppy Levels: 10300/10335

Bank Nifty: 
#Demand Levels: 25266/25230
#Supply Levels: 25400/25500

~~ with inputs from Capital Market - Live News