Weekly Equity Report by www.epicresearch.co - 4thFebruary 2013

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indore, India (prHWY.com) February 4, 2013 - WEEKLY NEWS
All decisions on 2G spectrum auction finalised:
Kapil Sibal
The Empowered Group of Ministers met today to discuss the 2G auction. Speaking after the meeting, telecom minister, Kapil Sibal said all decisions regarding the auction have been finalised. He also added that there will be no cap on the maximum number of blocks any company can bid for. Kapil Sibal, telecom minister, said, "The EGoM met today to approve the notice for the invitation of the auction and the whole agenda has been approved. We are now going ahead with the auction as proposed. Whatever are the other procedural decisions that had to be taken, have been taken. You can find out all the details from us."
Govt spend in infra space to pick up: L&T's
Raman
Heavy engineering and construction major Larsen & Toubro expects government spend on infra development to pick up soon. R Shankar Raman, CFO, L&T in an interview with CNBC-TV18 said that the company is getting good orders from civil construction spaceBudget 2013-14: FM will get a bigger bank recap bill, courtesy RBIThe finance minister is not going to get his free lunch from Duvvuri Subbaro, despite the fact that the latter cut both repo and cash reserve ratio on 29 January to please him.The obverse side of easier money and credit is always a higher complement of bad loans. And more bad loans means more capital.
Market Analysis
* KEY BENCHMARK INDICES EDGED LOWER AFTER THE RESERVE BANK OF INDIA WHILE ANNOUNCING A REDUCTION OF ITS KEY POLICY LENDING RATE BY 25 BASIS POINTS (BPS) AFTER A MONETARY POLICY REVIEW ON 29 JANUARY 2013 SIGNALED THAT THERE IS LESS ROOM FOR AGGRESSIVE POLICY RATE CUTS AMID ANY NEGATIVE SURPRISE EMANATING FROM INFLATION AND THE TWIN DEFICITS. THE BAROMETER INDEX, BSE SENSEX, SLIPPED BELOW THE PSYCHOLOGICAL 20,000 MARK
* THE BSE SENSEX DECLINED 322.34 POINTS OR 1.6% TO 19718.19 IN THE WEEK ENDED 1 FEBRUARY 2013.
* THE S&P CNX NIFTY DECLINED 75.75 POINTS OR 1.24% TO 5998.90.
* FROM THE 30-SHARE SENSEX PACK, 23 STOCKS FELL AND ONLY 7 OF THEM ROSE.AUTO STOCKS WERE MIXED. MAHINDRA & MAHINDRA (M&M) SHED 1.52%.MARUTI SUZUKI INDIA ROSE
* 0.53%. MARUTI SUZUKI INDIA SAID DURING MARKET HOURS FRIDAY, 1 FEBRUARY 2013, ITS TOTAL SALES FELL 1.1% TO 1.14 LAKH UNITS IN JANUARY 2013 OVER JANUARY 2012. TATA MOTORS TUMBLED 5.33%.SHARES OF TWO-WHEELER MAKERS WERE MIXED. BAJAJ AUTO DECLINED 1.24% AND HERO MOTOCORP ROSE 2.79%.L&T DROPPED 4.5%.BANKING STOCKS SLIPPED ON PROFIT BOOKING. STATE BANK OF INDIA (SBI) SHED 4.11%.ICICI BANK FELL 0.15% TO RS 1171. INDIA'S SECOND LARGEST PRIVATE SECTOR BANK BY NET PROFIT HDFC BANK DROPPED 3.66%.
MARKET UPDATE
* Nifty down by 84 pts and
settle at 5998.90
* Bank Nifty down by 99
pts at 12606.00
Factors to watch
NIFTY
* Nifty looks Bearish
* Strategy: Sell on rise
* Support:5950
* Resistance: 6050
BANK NIFTY
* Bank Nifty looks Bearish
* Strategy: Sell on rise
* Support: 12510
* Resistance: 12690
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