Advance tax figures will make the difference today in market and Nifty trailing P/E is 22.03 and Sensex P/E is 21.37 and if Index EPS growth is maintained around 20-25% then 8-10% upside can be possible in both indices in near term but being stock specific would be advisable. Hotel stocks can be positive after RBI has removed the clause for hotels to be classified as commercial real estate, enabling the companies avail credits at cheaper rates HOTELLEELA/INDIANHOTEL and MAHIDHRAHOLIDAY would be good pick.
http://www.thehindubusinessline.com/2009/09/16/stories/2009091652220100.htm
http://economictimes.indiatimes.com/Market-News/Advance-tax-pay-charges-up-bulls/articleshow/5016197.cms
http://www.business-standard.com/india/news/q2-advance-tax-collections-point-to-robust-recovery/370261/
http://www.thehindubusinessline.com/2009/09/16/stories/2009091652220100.htm
http://economictimes.indiatimes.com/Market-News/Advance-tax-pay-charges-up-bulls/articleshow/5016197.cms
http://www.business-standard.com/india/news/q2-advance-tax-collections-point-to-robust-recovery/370261/
| ADVANCE SIGNALS Second installment of advance tax (paid on Sept 15) | |||
| Company | 2008 | 2009 | % Change |
| SBI | 1500 | 1838 | 22.53 |
| RIL | 683 | 1157 | 69.40 |
| Tata Steel | 1000 | 400 | -60.00 |
| DICGC | 773 | 850 | 9.96 |
| eICICI Bank | 575 | 501 | -12.87 |
| HDFC Bank | 315 | 425 | 34.92 |
| TCS | 81 | 220 | 171.60 |
| Ambuja Cements | 175 | 150 | -14.00 |
| Bank of Baroda | 255 | 412 | 61.57 |
| BPCL | 0 | 312 | NA |
| Union Bank | 108 | 207 | 92.00 |
| L&T | 150 | 210 | 40.00 |
| Bank of India | 90 | 269 | 198.89 |
| Asian Paints | 50 | 85 | 70.00 |
| Tata Motors | 60 | 130 | 116.67 |
| Ultratech | 41 | 125 | 204.88 |
| M&M | 17.5 | 112 | 540.00 |
| Central Bank of India | 91 | 79 | -13.19 |
| IDBI Bank | 20 | 62 | 210.00 |
| Tata Power | 14 | 75 | 435.71 |
| Lupin | 17 | 50 | 195.00 |
| Tata Chem | 61 | 60 | -1.64 |
| Dena Bank | 30 | 45 | 50.00 |
| Idea | 27 | 32 | 18.52 |
| Bajaj Auto | 90 | 170 | 89.00 |
| Videocon Industries | 25 | 30 | 20.00 |
| Lubrizol India | 10 | 20 | 100.00 |
| Sterlite Tech | 6 | 20 | 233.33 |
| Indian Hotels | 50 | 0 | NA |
| Figures in Rs crore | |||
PIPAVAV SHIPYARD issue opens today but looks expensive to its peers and one may accumulate BHARTI SHIP and ABG SHIP for long-term returns instead of waiting for PIPAVAV allotment.
SEBI is expected to give next week a 14-day notice to both Bharati Shipyard and ABG Shipyard, which are locked in a fierce takeover battle for Great Offshore, to come up with their final price quotes. Bharati and ABG have to give their quotes in closed envelopes before the deadline ends. Sebi will let both companies run their open offers simultaneously. Both companies can revise their already announced offer prices. No third company will be allowed to enter the fray. Bharati has revised its open offer price to Rs 405 per share, while ABG has given a counter offer of Rs 520. With 20 per cent in Great Offshore already with it, Bharati is looking for another 20%. ABG has a shade below 8% and wants to mop up 32% from the market
The RBI has removed the clause for hotels to be classified as commercial real estate, enabling the companies avail credits at cheaper rates and the move is expected to help companies lower overall cost of hotel projects which has created fresh buying interest in hotel stocks – INDIAN HOTEL and HOTEL LEELA may see 6-8% more gains.
