Hi Siddharth, has good support at 660. if holds it, can see some bounce

Hi MM, Good morning. can test 4950. don't take a fresh short yet. wait for some bounce

Hi G, Good morning. seems may remain a bit flat/ weak today

Hi sanzy, its a hold for now. looks good. near strong support levels

Hi CB, Todays listing TBZ... issue price 120

cb, how is bank of baroda for a intraday buy @ 456?

why nifty doing poor? whats teh reason

FYI....

RP-Sanjiv Goenka group is mulling an initial public offering (IPO) for Haldia Energy Ltd (HEL), the newly formed holding company of some of the group’s upcoming power plants. HEL is not part of the group flagship CESC Ltd, but was made a fully owned subsidiary of newly formed CESC Infrastructure Ltd last year.

HEL owns the upcoming 600MW project at Haldia in West Bengal. Through its wholly owned subsidiary Dhariwal Infrastructure Ltd, HEL also owns another 600MW capacity coming up at Chandrapur in Maharashtra. The planned 1,320MW project at Dhenkanal in Orissa might also be brought under HEL’s fold.

The IPO plan is as much to fund the group’s new power projects as for coping with elusive private equity (PE). Sanjiv Goenka has been planning to raise about Rs1,000 crore through placement of up to 26% stake in HEL with PE players, but without success.

“We have dropped the idea (of divesting stake in HEL). The market for private equity is not at its best. We would rather fund it on our own, and probably at the right time, we will do an IPO,” said Goenka at a media briefing about CESC Ltd’s fourth-quarter results. “The right time (for the listing) depends on the market.”

The Chandrapur project would be commissioned by March 2013 while the Haldia project is scheduled for 2014-15. CESC has decided to implement its long-delayed project at Balagarh in West Bengal, whose size has now been scaled up from 1,300MW to 1,920MW, requiring an investment of Rs10,500 crore.

The Balagarh project was cleared at the CESC board meeting on Tuesday. Goenka said talks are on with the West Bengal government for allocation of either a coal block or securing linkages for it.

“We have come to a decision that we, along with the state government, will revive and implement the Balagarh project. The land is there with us, and has the terms of reference from the environment ministry. What we need now is coal. The state government will help us to get a coal block or a linkage,” said Goenka.

The group is already in possession of about 997 acres required for the plant. Goenka is trying to secure coal supplies for the upcoming power projects.

Hi viji, global markets and technically looking negative too

Hi SS, ok. as of now wait for a small bounce in nifty. try and exit on rise near 5030-5050

Hi CA.Tejas, thanks for the update.

Hi G, no, looks weak

can i enter federal at 410 levels?

Hi G, enter near 408