Daily Newsletter: 11th February, 2011
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  • 1. February 11, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 10-Feb 9-Feb % Change COMMENTARYBSE Sensex 17,463 17,593 (0.74) INDIANSE Nifty 5,226 5,254 (0.53) Unabated selling continues on Thursday as the Nifty extended its losing streak to fifth straight tradingBSE Midcap 6,292 6,299 (0.11) session. Having said that, the Auto, Power and the Pharma stocks saw some buying, however, theBSE Smallcap 7,586 7,652 (0.86) Telecom, IT and the Realty stocks continued to get hammered. Today’s fall was seen despite food inflationNifty Junior 10,198 10,162 0.36 showing a considerable decline as compared to the previous week. Indias weekly food articles inflation fellCNX Midcap 7,324 7,285 0.53 to 13.07% as against 17.05% week on week. The BSE Sensex lost 130 points to close at 17,463 and the NSE Nifty fell 28 points to end at 5,226.In the broader market, the BSE Small Cap index and the BSE Mid mid cap index ended down 0.8% and 0.1%.GLOBAL MARKETS 10-Feb 9-Feb % Change Event to watch out for :- IIP Numbers are gone be declaredDow Jones Ind (USA) 12,229 12,240 (0.09)Nasdaq Composite(USA) 2,790 2,789 0.05S&P 500 (USA) 1,322 1,321 0.08 GLOBAL MARKETS.FTSE 100 (UK) 6,021 6,052 (0.51) Most U.S. stocks rose, erasing an earlier slump, as Egyptian President Hosni Mubarak’s plan to delegateDAX (Germany) 7,335 7,321 0.19 authority to his vice president spurred optimism the nation’s political crisis will not threaten the globalNikkei 225 (Tokyo) 10,606 10,618 (0.12) economy. About 10 stocks rose for every nine that fell on U.S. exchanges. The Standard & Poor’s 500 IndexHang Seng (Hong Kong) 22,709 23,164 (1.97) advanced 0.08 percent to 1,322, reversing an earlier slide of as much as 0.7 percent. The Dow Jones Industrial Average slipped 11 points, or 0.1 percent, to 12,229, erasing most of an earlier 83-pointShanghai Comp (China) 2,819 2,773 1.66 slump, and still snapping an eight-day rally.KOSPI (South Korea) 2,006 2,046 (1.96)STI (Singapore) 3,099 3,151 (1.64) The Asian markets have opened up on soft note Nikkei is trading marginally in red and Hang Seng is up byMSCI Emerging Market 414 425 (2.59) a percent.MSCI Frontier Market 598 598 0.00BOND MARKETS 10-Feb 9-Feb Change CORPORATE/ ECONOMY NEWS10yr G-Sec Yield 8.20 8.22 (0.02) Power utility company CESC announced an increase of 7.8% in its net profit at Rs 110 crore for the quarter1yr G-Sec Yield 7.67 7.59 0.08 ended December 31, 2010, as compared to Rs 102 crore in the same period last fiscal. Revenues of theLIBOR (6m) 0.46 0.46 0.00 company in the quarter increased 18% at Rs 939 crore as compared to Rs 797 crore in the correspondingLIBOR (1m) 0.26 0.25 0.01 period last fiscal.Interbank Call rate 6.6 6.6 (0.01) Defense PSU BEML announced that its plans to invest Rs 360 crore for setting up an aerospace manufacturing complex here and said the company is scouting for acquisition of small firms to strengthen this business vertical. BSE Turnover Rs Cr(000) Sensex 18200 4.5 Auto maker Tata Motors said that it has bagged an order to supply around 250 Tata Prima trucks to 4.0 LINFOX Logistics, a leading supply chain solutions company in the Asia Pacific region. 18000 3.5 17800 3.0 State-owned Indian Oil Corporation (IOC) reported an over two-fold jump in net profit to Rs 1,634 crore 2.5 for the quarter ended December 31, 2010.Net profit was up 134.7% to Rs 1,634.76 crore in the October- 17600 2.0 December quarter from Rs 696.59 crore in the same period a year ago. 17400 1.5 1.0 BGR Energy systems announced its third quarter results posting a net profit of Rs 87.56 crore for the 17200 0.5 quarter ended December, 2010, up 108.92% as compared to Rs 41.91 crore for the corresponding quarter a 17000 0.0 year ago. Total Income has increased 96.99% to Rs 1,258.56 crore for the quarter ended December 31, 2010 4-Feb 7-Feb 8-Feb 9-Feb 10-Feb from Rs 638.87 crore for the same quarter a year ago. Firstsource Solutions posted a 4.95% jump in net profit to Rs 34.96 crore for the quarter ended December 31, 2010.The company had reported a net profit of Rs 33.31 crore for the October-December period last NSE Turnover Rs Cr(000) Nifty year. 5450 18 5400 16 Mahindra & Mahindra will launch an open offer on April 6 to buy an additional 20% stake in micro- 14 irrigation firm EPC Industries. Mahindra is buying a 38% stake in EPC for Rs 26.9 crore ($6 million), and is 5350 12 5300 88.38 #DIV/0! launching the open offer as per the Indian capital market rules. 10 5250 8 6 Cassidian and Indian engineering giant Larsen & Toubro (L&T) join forces in the field of defense 5200 electronics. The Indian authorities have now approved the formation of a joint venture company between 4 5150 2 L&T and Cassidian, the newly renamed defense and security division of Europes leading aerospace and 5100 0 defence group - EADS. 4-Feb 7-Feb 8-Feb 9-Feb 10-Feb Auto tyre and rubber products manufacturer MRF reported a 14.42% decline in net profit to Rs 102.18 crore for the quarter ended December 31, 2010.The company had posted a net profit of Rs 119.41 crore for the ` October-December quarter last fiscal
  • 2. February 11, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 10-Feb 9-Feb % Change CORPORATE NEWSAuto 8,279 8,211 0.83 Madras Cements posted a 171.5% rise in net profit for the third quarter of the 2010-11Power 2,526 2,506 0.82 fiscal to Rs 43.48 crore on the back of successful cost-saving measures. The companyHealthcare 5,844 5,810 0.58 had reported a net profit of Rs 16.01 crore for the corresponding quarter of theCapital Goods 12,384 12,379 0.03 previous fiscal.FMCG 3,193 3,195 (0.04)Metal 15,239 15,264 (0.17) Telecom network equipment-maker Ericsson said that it has partnered with AdityaConsumer Durables 5,392 5,405 (0.24) Birla Group firm Idea Cellular for the latters online applications store.Bankex 11,442 11,478 (0.31) (0.76) Haldia Energy, a subsidiary of CESC, is in talks with several foreign private equity (PE)PSU 8,222 8,285 funds for raising money for the three projects to be executed by the company.Oil&Gas 9,139 9,214 (0.81)Realty 2,063 2,085 (1.03) IT major MphasiS is mulling acquisitions in the BFSI and capital market space.IT 6,148 6,243 (1.53)Teck 3,596 3,652 (1.54) Private sector lender City Union Bank reported a 41.94% jump in its net profit at Rs 57.70 crore for the third quarter ended December 31, 2010, over the same period a year ago. It had a net profit of Rs 40.65 crore during the corresponding quarter of the last fiscal. The government has approved follow-on public offer (FPO) of the state-run lending agency Power Finance Corporation (PFC) worth about Rs 5,732 crore.BSE Upper Circuit BreakersCompany Name 10-Feb 9-Feb % Change Tilaknagar Industries Ltd. (TI), a leading player in the Indian Made Foreign LiquorEPC Industries 77.0 64.2 20.00 (IMFL) industry has announced its consolidated financial results for the third quarterEcoplast 36.3 33.0 10.00 ended December 31, 2010.Total revenues at Rs1,289.4 mn, increased by 12.9% fromPolytex India 210.8 191.6 10.00 Rs1,142.2 mn. Brand sales for the quarter at Rs3,350 mn as against Rs2,589Parekh Aluminex 235.5 224.3 5.00 mn, registering an increase of 36%. 0Symphony 1164.0 1108.6 5.00 Leading private ship building company ABG Shipyard reported a decline of 35.04% in its net profit for the quarter ended December 31, 2010 at Rs 53.45 crore. The company had posted a net profit of Rs 82.29 crore during the corresponding quarter of the 2009-10. Realty firm Omaxe reported a 20.7% decline in its consolidated net profit to Rs 22.57BSE Lower Circuit Breakers crore for the quarter ended December 2010, due to lower realization in sales of housingCompany Name 10-Feb 9-Feb % Change units. The company had posted a net profit of Rs 28.46 crore in the year-ago period.RM Mohite 302.0 335.5 (10.00)BF Investment 101.9 113.2 (10.00) Steel Authority of India (SAIL) said that it will invest Rs 5,000 crore to develop theCamphor & Allied 230.8 256.4 (10.00) mines in Chiria and start mechanized mining in the next three years to feed its plants in Bokaro, Burnpur, Durgapur and Rourkela.Spice Island 20.3 22.6 (10.00)KGN Industries 154.0 162.1 (5.00) Cairn India, the operator of the nations biggest onshore oilfield, reported an almost seven-fold jump in net profit for the third quarter on back of record increase in output.Net profit climbed to Rs 2,010.12 crore in October-December from Rs 290.96 crore a year earlier. Kishore Biyani-led Future Group said its telecom venture launched under the brand T24 would add Rs 200-300 crore to its top line within a year, even as it plans to open seven more Big Bazaar stores in the northern region.COMMODITY 10-Feb 9-Feb % Change COMMODITY / CURRENCY NEWSCrude Oil (USD/bbl) 87.1 87.6 (0.56)Gold (Rs/10gm) 20,439.0 20,406.0 0.16Silver (Rs/kg) 45,755.0 46,058.0 (0.66) Light Sweet Crude Oil on Thursday lost 0.56% closing at $87.1 per barrel. Gold closed up by 0.16% at Rs 20,439 and Silver closed down by 0.66% at Rs. 45,755.CURRENCY 10-Feb 9-Feb % Change The Indian Rupee closed higher against the dollar at 45.65 as the Indian equityINR / USD 45.65 45.41 0.53 benchmarks ended on negative note.USD / Euro 1.36 1.36 (0.29)Yen / USD 82.64 82.58 0.07
  • 3. February 11, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSCHENNPETRO 197.1 200.0 1.50 Indias food inflation eased in end January on moderating prices of fruits andJISLJALEQS 190.7 192.4 0.89 vegetables but annual headline inflation in January is still expected to remain high.BRFL 232.1 234.1 0.88 Indias food price index rose 13.07% and the fuel price index climbed 11.61% in theCONCOR 1081.5 1,091.0 0.88 year to January 29.GVKPIL 25.5 25.7 0.78DCB 39.7 40.0 0.76 The government has approved a proposal of Mauritius-based Enam IndiaCOREPROTEC 267.5 260.0 (2.80) Infrastructure Fund to undertake foreign direct investment (FDI) of Rs 3,450 crore in the country.SCI 110.6 108.1 (2.31)PFC 252.4 246.8 (2.22) The global IT market staged a healthy comeback last year, with expenditure on ITDLF 245.9 241.4 (1.83) products and services rising 8% from 2009 to more than $1.5 trillion, according toNATIONALUM 401.9 395.4 (1.63) market research firm IDCs Worldwide Black Book report released on Wednesday.ACC 954.2 942.6 (1.22) India will pick up by next one month the vendor for its biggest-ever military fighterINSTITUTIONAL ACTIVITY (Rs Cr) 2-Feb 1-Feb YTD deal for purchasing 126 Medium-Multirole Combat Aircraft at a cost of $11FII Cash Net (46) (453) (4,608) billion, the contract of which is expected to be finalized by September.FII Stock Futures (78) 294 (49)FII Index Futures (814) (923) (5,358)Mutual Fund 873 730 856VALUATIONS P/E P/B DIV YLDBSE 19.0 3.3 1.2NSE 20.1 3.3 1.2BSE500 Mcap/GDP Ratio 0.57 MOVERS & SHAKERS 4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERSName Rs % Name Rs % Name Rs %Reliance Infra 585.25 9.45 Onmobile Global 215.4 15.96 Ashoka Buildcon 306 19.93Jaiprakash Asso 76.15 5.25 Jain Irrigation 192.9 9.85 Ferro Alloys 12.06 14.75Tata Motors 1,102.90 2.37 Sterling Intl 249.1 8.35 Prraneta Inds 70.35 14.2Reliance Comm 96.55 1.79 Jyothy Lab 209.7 8.01 Lloyds Metal 42.95 13.32DLF 245.50 1.45 United Bank 91 7.25 Vipul 14.6 11.88TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERSName Rs % Name Rs % Name Rs %SBI 2,496.65 -3.64 Parsvnath Dev 27.6 -15.47 MIC Electronics 17.85 -19.05Bharti Airtel 323.05 -2.8 IL&FS TRANS 204.95 -11.79 Vivimed Labs 224.9 -13.1Sterlite Inds 156.05 -2.53 Sunteck Realty 378.75 -8.86 Tilaknagar Inds 50.4 -12.04BHEL 2,042.85 -2.48 Honeywell Auto 2048 -8.76 Minda Inds 201 -11.28Infosys 3,056.05 -2.27 Indian Hotels 78.15 -8.22 RM MOHITE 302 -9.99 BULK DEALSSCRIPT NAME CLIENT NAME TYPE QTY % PRICENSENu Tek India Trans Financial Resources Ltd BUY 3.23% 17.6Emami Infrastructure Crosseas Capital Services Pvt. Ltd. BUY 2.45% 47.6Kalindee Rail Nirman (Eng Crosseas Capital Services Pvt. Ltd. BUY 3.60% 197.5Subex Manish Vrajlal Sarvaiya SELL 1.23% 84.0Fiem Industries Fiem Industries Limited SELL 2.57% 176.0BSEBirla Shloka Philipa John Dmello SELL 1.28% 15.7Kalindi Rail Deepak Popatlal Vora BUY 0.65% 126.5Marico Oppenheimer International Value Fd BUY 3.35% 114.0Dhanus Tech Grantview Properties SELL 2.30% 11.4Suryajyoti Spi Dinesh Shah SELL 1.22% 51.0