19-23 May-08 - Weekly Close

Sensex lost 4.5% and the Nifty, 4.1%. CNX Midcap index shed 3% and BSE Smallcap index, 1.2%, over the week. Sector-wise, BSE Bankex was down 7.8%, BSE FMCG index lost 5% and BSE Capital Goods index lost 4% over the last four trading sessions.

23-May-08 Close

Sensex closed at 16,658, down 248 points (provisional) from the previous close. Nifty shut shop below 4950 at 4948, down 76 points (provisional).

Moser Baer Solar PLC

Moser Baer Solar PLC, a subsidiary of the Moser Baer plans to raise an amount equivalent to USD 150 Million and the Board of the Company has given their consent to do the same.

Empee Distallaries

Buy Empee Distallaries @161 target 250 ... it has isssued shares @400/- and got oversubscribed 28 times in december

Empee Distilleries is developing part of its 20.88 acres freehold property located at Sriperumbudur, Kanchipuram District, into 12.23 lakh sq. ft. of residential space and 3 lakh sq. ft. of basement. This project was approved by DTCP in March 2007 and hence eligible for deduction under Section 80-IB of the Income Tax Act. This would make the company eligible for 100% tax exemption on the profits to be earned from development of this property. The project has 840 flats and estimated selling price is around Rs.2,850 per sq. ft. in addition to realization of Rs.1,000 per sq. ft. for basement. Considering cost of construction and development of Rs.1,500 per sq.ft., this would translate into a profit of Rs.195 crores which would get realized in the next three years by September 2010.

The company hopes to have a topline of about Rs.1,100 crores with PAT of atleast Rs.48 crores. Of this PAT, realty division would give Rs.12 crores, IMFL Business Rs.32 crores and Power Rs.4 crores. This would result into an EPS of Rs.25 for FY 08, ending 30th September.

Empee distillaries had issued shares at Rs.400 per share, which is now ruling at Rs.162, discounting FY 08 earning by about 6 times and FY 09 earning by about 4 times. Due to strong visibility of earnings for the next couple of years, the share has huge upside potential.

Empee distillaries is now expanding capacity its Tamil Nadu Distillery from 20 KLPD to 70 KLPD with capacity to handle 5 lakh cases per month, from present 3.20 lakh cases per month. The company is also setting up 60 KLPD grain based Distillery with capacity of 8.40 lakh cases per annum at Nellore in A.P. and a distillery in Karnataka for 12 lakh cases per year. This would give presence to the company in all four Southern states.

Inflation

Inflation numbers for the week May 10 are estimated at 7.8 -7.95%

Bajaj Auto Limited

Bajaj Auto Limited - ( Listing Date : Monday, May 26, 2008 ) BSE Scrip Code : 532977 Group : B NSE Symbol : BAJAJ-AUTO Face Value & Paid up value : Rs.10/- each fully paid Bajaj Finserv Limited - ( Listing Date : Monday, May 26, 2008 ) BSE Scrip Code : 532978 Group : B NSE Symbol : BAJAJFINSV Face Value & Paid up value : Rs.5/- each fully paid Rohan Mehta

OIL PRICES TO INCREASE BY RS. 2-3

Sandur

sandur buying freeze @ 1075

FIIs remain net sellers in equities worth Rs 5,507 mn on May 22

Foreign institutional investors (FIIs) remained net sellers in equities worth Rs 5,507 million on May 22. They bought equities worth Rs 22,260 million and sold equities worth Rs 27,767 million. Till May 22, they have been net sellers in equities worth Rs 11,394 million.

FIIs were absent in debt segment on May 22. Till May 22, they have been net sellers in debts worth Rs 179 million.

FIIs remained net sellers in derivatives worth Rs 5,158.2 million on May 22. They bought derivatives worth Rs 20,844.5 million and sold derivatives worth Rs 26,002.7 million.

MFs turn net sellers in equities worth Rs 922 mn on May 22

MFs turn net sellers in equities worth Rs 922 mn on May 22.

They bought equities worth Rs 5,488 million and sold equities worth Rs 6,409 million. Till May 22, they have been net sellers in equities worth Rs 7,283 million.

MFs remained net sellers in the debt segment worth Rs 5,632 million on May 22. They bought debts worth Rs 14,920 million and sold debts worth Rs 9,288 million.

Till May 22, they have been net buyers in debts worth Rs 61,000 million.

Mkt. Rumour: Ban on Reliance and Essar Oil oil export likely