BANKING stocks look negative

BSEBANKEX (9991) after making high of 10698 for 2009, now the sector looks weak below 9900 correction till 9500 can be considered healthy below which caution advised as advance tax figures which is source based point to negative to flat tax payment with no major surprise now. 

Banking stocks have outperformed this year with DENA BANK rising 160% so far and others like UCO, BANKBARODA growing close to 100% but there is no corresponding growth in financials for these companies as Adv Tax figures are quite flat for banks so far.

LICHOUSING from March low of Rs.193 has made a high of Rs.912 and started to react with LIC Paying Rs 981 Cr Vs Rs 870 Cr which is not commendable with the price move. The stock is expected to reach near Rs 750 levels before moving up, caution advised in the stock.

Here is a list, as indicated by sources, of the Q3 advance tax numbers of major companies across India on a year-on-year basis.

() HDFC Pays Rs 320 Cr Vs Rs 280 Cr

() HUL Pays Rs 200 Cr Vs Rs 155 Cr

() Hindalco Pays Rs 100 Cr Vs Rs 40 Cr

() Grasim Pays Rs 150 Cr Vs 75 Cr

() LIC Pays Rs 981 Cr Vs Rs 870 Cr

() M&M Pays Rs 195 Cr

() BPCL Pays No Advance Tax This Quarter

() L&T Pays Rs 270 Cr Vs Rs 312 Cr

() UltraTech Pays Rs 90 Cr Vs Rs 65 Cr

() Tata Power Pays Rs 81 Cr Vs Rs 29 Cr

() Tata Chem Pays Rs 40 Cr Vs Rs 83 Cr

() Dena Bank Pays Rs 65 Cr Vs Rs 60 Cr

() Tata Motors Pays Rs 100 Cr Vs Nil

() Tata Steel Pays Rs 650 Cr Vs Rs 260 Cr

() IndusInd Bank Pays Rs 65 Cr Vs Rs 22 Cr

() Tata Sons Pays Rs 20 Cr Vs Rs 40 Cr

() Bank Of Baroda Pays Rs 330 Cr Vs Rs 220 Cr

() Bank Of India Pays Rs 102 Cr Vs Rs 370 Cr

() Central Bank Pays Rs 138 Cr Vs Rs 163 Cr

() Bajaj Electricals Pays Rs 28.5 Cr

() M&M Pays Rs 195 Cr Vs Rs 4.5 Cr

http://www.thehindubusinessline.com/2009/12/15/stories/2009121552801500.htm  Domestic steel producers have failed to get safeguard duty levied on import of hot-rolled coils, sheets, strips. The Director-General (Safeguards) has in its order stingingly stated that the applicants' industry is not a “domestic industry” and the applicants did not give the requisite information.

India's garment exports fall 17% in October to $603 million compared to the year-ago period as the country lost market share to China, Vietnam and Bangladesh due to uncompetitive pricing of fabrics in the domestic market.

http://www.business-standard.com/india/news/bearish-triple-top-at-5180/80672/on   Bearish triple top at 5,180

Glenmark Pharmaceuticals Ltd may settle with US firm Merck/Schering Plough Pharmaceuticals Llc, resulting in the with drawal of patent litigations related to the launch of a copy of the latter's $1.6 billion (Rs7,472 crore) in sales drug ezetimibe in the US market next year, according to a report released by First Global Securities Ltd last week. If successful, the Indian company will be able to grab a significant share in the US of the sales of the world's fourthmost prescribed anticholester ol drug because it will then become the only firm to sell a lowcost version of it in the first six months of the launch. Merck sells this drug under the brand name Zetia.

http://navneetsinghal.blogspot.com/2009/12/seminar-jan-2010-details.html 2Days Seminar on Techno-Fundamental Conducted by A.K.Prabhakar in association with CA. Navneet Singhal Contact Mr.Navneet for bookings Mobile number-09899593340 Navneet.singhal001@gmail.com

Date & Time:-

9 th Jan 2010 9:30 AM to 5:00 PM

10 th Jan 2010 9:30 AM to 2:30 PM

Venue :-

The Saffron Court,

Convocation Hall,

8, Sikka Trade Complex,

L.S.C. New Rajdhani Enclave,

Vikas Marg, Delhi-92

(Near preet vihar Metro station).