TOP PICKS FOR 2011 :Indian Stock market News:10/07/11

Top picks

 

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•  If crude oil pricecorrects and subsidy burden gets reduced, the net realisation for the PSUexploration major ONGC would be higher. KG block basin seems to hold potential.
•  Advance tax paid oil explorer ONGC (Rs. 1,062 crore)
• Target-345.

                        
  

• The refining margins are expected toremain strong in the near term. Besides, the alliance with BP will enhance theupstream activity of the largest refiner in the country.
•    Advance tax paid  by Reliance Industries (Rs. 900 crore).
•   The stock is at thelowest point of the long-term band. It has resistance at 900 level and supportat 825 level. Hold it with a stop loss of 825.
•    The company hasrecently been in news over CAG report and gas output . Input costs and gasexploration claims by the company may have impacted the stock. Still the recentforay of the company into the insurance sector is a big positive for thecompany. Margins from its gas business are still attractive. With FIIs buyinginto the Indian market, the stock of this conglomerate is expected to do wellin the future.
• Target-1050.

•  The increase in gas price to $4.2 per mmbtu is a big positive for the government-owned oil exploration company as it improves its revenue and profitability.
• Target-1500.

                                                             

                                                   

•  Kotak Mahindra Bank's advance tax outgo stood at Rs 60 crore (Rs600 million) up from Rs 45 crore (Rs 450 million).
•  Target-530.                                                   

• The tobacco leader GodfreyPhillips saw its tax bill exactly doubling to Rs 12 crore from Rs 6 crore.
• Expected Good news fromthe company in coming days buy on dip.
•  Target-4000.

                                                          

•  The stock is in a down-trend. It has witnessed some consolidation recently. The stock can bebought at 1800 or 1850 level in the long term.
•  Target -1950-2000.

                                                             

• Essarplans to lift the capacity of its refinery from 280,000 barrels per day (bpd)to 360,000 bpd by end-June and to 400,000 bpd by September 2012.
•  Plansto expand retail fuel stations to 1700 but further expansion to 3,000 dependson pace of deregulation of diesel.
•  Expectedprofit more than Rs.250 cr. in this quarter.
• Target-150+.